SAICA lays charges against 'dishonest, unworthy' Markus Jooste

Read More www.news24.com/fin24/companies/saica-lay...rkus-jooste-20210524

Great stuff this oke is a fraud and skelm of note

The profession has been severely tainted for very long...too many who have brought disrepute that have not been brought to the fore...Jooste, Anoj Singh are very tip of a very large iceberg...

Correct Mr Naicker they steal and loot and scam millions the rest don't even have food tonight and that's why I don't have zero sympathy with these okes they need to be in jail

Anyway you guys must have a good one I am af to the Kruger national park tomorrow morning for a week and I can't let this jooste doos fuck my blood pressure up and I hope somewhere in our screwed up justice system they find him guilty and send him to jail.

Jooste will lose his CA SA designation, I doubt he will ever need it.

He won't need it he stole millions. He can just sit around and wait for better times

Remember this is SA and he is coupled on the tote with Zuma.

Mossel wrote: He won't need it he stole millions. He can just sit around and wait for better times[/quote

2 years before the Steinhoff debacle I attended an Allan Gray investment roadshow and afterwards at the social function I asked one of the senior guys why they had dramatically reduced their holding in Steinhoff.

Without hesitation he said we have had many people all over the work analyse the business and we don’t really fully understand how they making so much profits.

The next day I sold!

Dave Scott wrote: Remember this is SA and he is coupled on the tote with Zuma.

Dave, unfortunately the majority of SAFFA’s don’t understand this.

We forced to pay taxes in terms of law and during JZ’s years they were stolen.

MJ ran a listed company, nobody was forced to invest there and you could sell anytime.

Iam not sure why anyone would compare him to Zuma.

Organisations like the PIC didn’t do proper homework and invested there because of greed.

I was actually referring that nothing will happen to them, when you are rich in SA you appear to become untouchable.

If the normal man in the street breaks the law, they have plenty time to arrest you and "bring you to book" within hours .

IMO

Cochrane wrote:

Dave Scott wrote: Remember this is SA and he is coupled on the tote with Zuma.

Dave, unfortunately the majority of SAFFA’s don’t understand this.

We forced to pay taxes in terms of law and during JZ’s years they were stolen.

MJ ran a listed company, nobody was forced to invest there and you could sell anytime.

Iam not sure why anyone would compare him to Zuma.

Organisations like the PIC didn’t do proper homework and invested there because of greed.

The PIC is going to burn a lot of retirees...I have done some numbers on the GEPF defined benefit pension...investment mis"managed" by PIC...in effect they are giving retirees a pension equal to 8.66% of fund at retirement growing by 75% of CPI annually...works out to GEPF estimating that pension will need to be provided for 10 years post retirement...this equates to a before costs return of close to 10.5% required...in the current environment of 30+ year lows in interest rates, the differential growth can only come through equity investments and the attendant risks that brings...so they have to be really good with their analysis / evaluation of the equity investments they make (unlikely when they are putting money in so comrades can take money out - besides Steinhoff and Tongaat Hulett and EOH disasters, there is the example of the Iqbal Surve companies that they put money into at inflated valuations) or hope retirees live less than 10 years (so pension obligation falls away in absence of surviving spouse) or are in constant need of younger persons contributions to pay older persons pensions (a type of P_NZI scheme that will unravel as government puts a hold on employment or cannot continue to contribute their portion ie. 13.5-15% of pensionable income of government employees )...

By way of comparison, a private sector life annuity would offer a pension the equivalent of closer to 7% of fund at retirement if there is to be annual growth of 75% of CPI...

So, PIC may have R1,9 trillion of funds under mis"management" but as Gandhi said along the following lines...we have more than enough for everyone's needs but not enough for a few people's greed...