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Ex-Steinhoff CEO Markus Jooste loses appeal against German arrest warrant | Business

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

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 judicial authorities in Oldenburg could now seek his extradition from South Africa or ask Interpol for help in the case. In times of uncertainty you need journalism you can trust. For 14 free days, you can have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today. Thereafter you will be billed R75 per month.

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