newsinsightplus.com 2020.Steinhoff2023Around March 22, 2024 0 Comments BBC HomepageSkip to contentAccessibility HelpYour accountLiveNotificationsHomeNewsSportWeatheriPlayerSoundsBitesizeMore menuMore menuSearch BBCHomeNewsSportWeatheriPlayerSoundsBitesizeCBBCCBeebiesFoodClose menuBBC NewsMenuHomeIsrael-Gaza warCost of LivingWar in UkraineClimateUKWorldBusinessPoliticsCultureMoreTechScienceHealthFamily & EducationIn PicturesNewsbeatBBC VerifyDisabilityWorldAfricaAsiaAustraliaEuropeLatin AmericaMiddle EastUS & CanadaMarkus Jooste: Poundland owner’s ex-boss dies of gunshot wound in South AfricaPublished10 minutes agoShareclose panelShare pageCopy linkAbout sharingImage source, Getty ImagesImage caption, The 63-year-old died a day after getting a record fine for accounting fraudBy Will Ross & Natasha BootyBBC NewsMarkus Jooste, the former head of the Steinhoff retail group that was at the centre of a huge corporate fraud case in South Africa, has died.Police said Mr Jooste succumbed to a gunshot wound in hospital, with local media reporting he shot himself at his home in the southern town of Hermanus.”The circumstances surrounding his death are being investigated,” police spokesperson Andre Traut said.The group included retailers across Europe including the UK’s Poundland.Local media says Mr Jooste once had a “near-mythical” reputation as an exceptional businessman, credited with turning the small Johannesburg furniture-seller Steinhoff into a multinational retailer.BBC Africa Live: Updates from across the continentNews of the 63-year-old’s death came a day after he was ordered to pay a $25m (£20m) fine – said to be the biggest in South Africa’s history.The country’s financial regulator said Mr Jooste had played a role in the publishing of misleading financial statements about Steinhoff International Holdings.Fake transactions worth $6.5bn were made by Steinhoff executives in order to inflate profits, an audit by PwC found.Close to 98% of Steinhoff’s share value was wiped out in 2017, when the accounting scandal first broke. Those heavy losses also affected investors in South African pension funds.Mr Jooste resigned as chief executive, but denied any knowledge of accounting fraud. He was also later fined for insider trading in 2020.Steinhoff International Holdings is based in South Africa but also listed in Germany’s financial capital of Frankfurt.After Mr Jooste’s no-show at a trial in Germany last April, a German court issued a warrant for his arrest in June. Related TopicsSouth AfricaMore on this storyA quick guide to South AfricaPublished24 July 2023Around the BBCFocus on Africa podcastsTop StoriesLive. Russia and China block US call for immediate Gaza ceasefire at UNLife sentence for man who murdered couple with fentanylPublished1 hour ago’Help my brother first’: Gazan girl’s plea as entire family killedPublished7 hours agoFeaturesInside the ice cream van feeding familiesSolar eclipse spectacle set to grip North America againUFC star squares his Muslim faith with a career in the octagonGrumpy gran aged 75 is global Fortnite sensationWeekly quiz: How long did this woman take to climb nearly 300 mountains?Apple becomes the latest tech giant under siege’Help my brother first’: Gazan girl’s plea as entire family killedFleeing Ukraine’s embattled border villagesThe photographer who captured Sinead, Oasis and more starsElsewhere on the BBCFrom the largest ship to disasters on deck…A closer look at times when cruise ships have caused commotionAttributioniPlayerCow, goat, oat, almond, soya…Which milk is the cream of the crop for your health and the planet?AttributionSoundsUnearthing China’s terracotta armyIn 1974 a chance find by Chinese farmers led to an astonishing archaeological discoveryAttributionSoundsMeet some adorable hamsters from Wales…This family loves Casualty, News, Sport and the odd murder show!AttributioniPlayerMost Read1Don’t mess with England football kit flag – Sunak2Stranger Things actor to officiate co-star’s wedding3Life sentence for man who murdered couple with fentanyl4UK’s highest student loan revealed to be £231,0005Send ‘arrogant’ Starmer a message, Sunak tells voters6Ex-boss of Poundland owner dies from gunshot wound7Wetherspoon profits jump as Covid recovery continues8Nationwide payments to banks delayed by IT glitch9Why Trump may reap billions in a stock market merger10Million in Ukraine lose power after Russian attack [ad_1] Markus Jooste dies one day after being ordered to pay a $25m fine for accounting fraud in South Africa. Continue reading
newsinsightplus.com 2020.Steinhoff2023Around March 22, 2024 0 Comments BBC HomepageSkip to contentAccessibility HelpYour accountLiveNotificationsHomeNewsSportWeatheriPlayerSoundsBitesizeMore menuMore menuSearch BBCHomeNewsSportWeatheriPlayerSoundsBitesizeCBBCCBeebiesFoodClose menuBBC NewsMenuHomeIsrael-Gaza warCost of LivingWar in UkraineClimateUKWorldBusinessPoliticsCultureMoreTechScienceHealthFamily & EducationIn PicturesNewsbeatBBC VerifyDisabilityWorldAfricaAsiaAustraliaEuropeLatin AmericaMiddle EastUS & CanadaMarkus Jooste: Poundland owner’s ex-boss dies of gunshot wound in South AfricaPublished10 minutes agoShareclose panelShare pageCopy linkAbout sharingImage source, Getty ImagesImage caption, The 63-year-old died a day after getting a record fine for accounting fraudBy Will Ross & Natasha BootyBBC NewsMarkus Jooste, the former head of the Steinhoff retail group that was at the centre of a huge corporate fraud case in South Africa, has died.Police said Mr Jooste succumbed to a gunshot wound in hospital, with local media reporting he shot himself at his home in the southern town of Hermanus.”The circumstances surrounding his death are being investigated,” police spokesperson Andre Traut said.The group included retailers across Europe including the UK’s Poundland.Local media says Mr Jooste once had a “near-mythical” reputation as an exceptional businessman, credited with turning the small Johannesburg furniture-seller Steinhoff into a multinational retailer.BBC Africa Live: Updates from across the continentNews of the 63-year-old’s death came a day after he was ordered to pay a $25m (£20m) fine – said to be the biggest in South Africa’s history.The country’s financial regulator said Mr Jooste had played a role in the publishing of misleading financial statements about Steinhoff International Holdings.Fake transactions worth $6.5bn were made by Steinhoff executives in order to inflate profits, an audit by PwC found.Close to 98% of Steinhoff’s share value was wiped out in 2017, when the accounting scandal first broke. Those heavy losses also affected investors in South African pension funds.Mr Jooste resigned as chief executive, but denied any knowledge of accounting fraud. He was also later fined for insider trading in 2020.Steinhoff International Holdings is based in South Africa but also listed in Germany’s financial capital of Frankfurt.After Mr Jooste’s no-show at a trial in Germany last April, a German court issued a warrant for his arrest in June. Related TopicsSouth AfricaMore on this storyA quick guide to South AfricaPublished24 July 2023Around the BBCFocus on Africa podcastsTop StoriesLive. Russia and China block US call for immediate Gaza ceasefire at UNLife sentence for man who murdered couple with fentanylPublished1 hour ago’Help my brother first’: Gazan girl’s plea as entire family killedPublished7 hours agoFeaturesInside the ice cream van feeding familiesSolar eclipse spectacle set to grip North America againUFC star squares his Muslim faith with a career in the octagonGrumpy gran aged 75 is global Fortnite sensationWeekly quiz: How long did this woman take to climb nearly 300 mountains?Apple becomes the latest tech giant under siege’Help my brother first’: Gazan girl’s plea as entire family killedFleeing Ukraine’s embattled border villagesThe photographer who captured Sinead, Oasis and more starsElsewhere on the BBCFrom the largest ship to disasters on deck…A closer look at times when cruise ships have caused commotionAttributioniPlayerCow, goat, oat, almond, soya…Which milk is the cream of the crop for your health and the planet?AttributionSoundsUnearthing China’s terracotta armyIn 1974 a chance find by Chinese farmers led to an astonishing archaeological discoveryAttributionSoundsMeet some adorable hamsters from Wales…This family loves Casualty, News, Sport and the odd murder show!AttributioniPlayerMost Read1Don’t mess with England football kit flag – Sunak2Stranger Things actor to officiate co-star’s wedding3Life sentence for man who murdered couple with fentanyl4UK’s highest student loan revealed to be £231,0005Send ‘arrogant’ Starmer a message, Sunak tells voters6Ex-boss of Poundland owner dies from gunshot wound7Wetherspoon profits jump as Covid recovery continues8Nationwide payments to banks delayed by IT glitch9Why Trump may reap billions in a stock market merger10Million in Ukraine lose power after Russian attack [ad_1] Markus Jooste dies one day after being ordered to pay a $25m fine for accounting fraud in South Africa. Continue reading