Business Maverick: Markus Jooste fined R15m, banned from directorships at listed companies for 20 years

The JSE has censured former Steinhoff CEO Markus Jooste for cooking the books to deliberately mislead the market.

Jooste gave the document to then-chief financial officer Ben La Grange to generate a false invoice to the TG Group for processing. The false invoice inflated Steinhoff at Work’s income for the 15 months ended September 2016 by R376,649,872, which in turn inflated the income of the group’s income. The JSE noted that, “Directors of issuers fulfil a critical role in ensuring that listed companies comply with the Listings Requirements.

What is R15m to him? Come on JSE, stand up and be counted, for once. Biggest fraud ever in the country, and this is what you fine him? How much did he cost the country and its reputation

When is he going to prison?

There must be a story behind what took so long

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JSE fines Markus Jooste R15m and bars him for 20 years | BusinessThe JSE has levied two R7.5 million fines against former Steinhoff CEO Markus Jooste as well as barring him from serving as a director for two decades, due to failures at the helm that prompted SA's biggest-ever accounting scandal. | News24_Business _diatile _Business Lmfao really _Business Jail? _Business JSE_Group bunch of 🤡
Source: News24 - 🏆 4. / 80 Read more »