Germany issues arrest warrant for Markus Jooste | Business

  • 📰 News24
  • ⏱ Reading Time:
  • 64 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 29%
  • Publisher: 80%

Business News News

Business Business Latest News,Business Business Headlines

A German court issued an arrest warrant for Markus Jooste, former chief executive officer of scandal-ridden retailer Steinhoff, after he failed to show up for trial in the country. | News24_Business

.

A German court issued an arrest warrant for Markus Jooste, former chief executive officer of scandal-ridden retailer Steinhoff International Holdings NV, after he failed to show up for trial in the country. The Regional Court of Oldenburg issued the warrant about two weeks ago, a spokesman for the tribunal said on Wednesday. Prosecutors had asked for the order in April when Jooste was a no-show for his trial in that city. His attorney, Bernd Gross, didn’t immediately reply to an email seeking comment on the arrest warrant.

Gross told the court in April that his client was unable to travel because he didn’t have access to his passport, under an arrangement with South African authorities. Jooste is facing much bigger probes and allegations there than in Germany, the lawyer said. Steinhoff has been battling to stay afloat, more than five years since auditors refused to sign off on its accounts. This prompted Jooste to resign and caused a dramatic share-price collapse as well as criminal and regulatory investigations in both Europe and South Africa. The executive was charged in Germany and the trial was scheduled to start April 18 but couldn’t continue due to Jooste’s no-show. In times of uncertainty you need journalism you can trust.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Former Pirates star on the market following Maritzburg United exit | KickOffJUST IN | Defender Wayde Jooste has become the latest star to confirm his exit from Maritzburg United following the club's relegation to the Motsepe Foundation Championship. Read more here ▶️
Source: KickOffMagazine - 🏆 36. / 51 Read more »