The 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.
Jooste has informed the JSE he does not agree with the decision and has challenged it, the JSE said in a statement, with the Financial Services Tribunal on Tuesday dismissing the suspension application, other than with regards to the fines. The JSE said it is opposing Jooste's challenge, but the ruling on Tuesday means it is in a position to impose its public censure and bar him from holding any directorships.
The JSE said it had imposed two fines of R7.5 million, the maximum allowable. One is for releasing financial statements that did not comply with listing requirements, and contained incorrect, false and misleading statements, and the other is for a fictitious invoice that falsely inflated income by R376 million.R2 million and barred him from acting as a company director for 10 years, in part for processing that fictitious invoice.
_Business why is he not in prison with the german nazis who helped him
_Business JSE_Group is proving to be more irrelevant and likely to see greater defections to alternative bourses. Why have all these rules if the sanction is so light?
_Business JSE_Group bunch of 🤡
_Business Jail?
_diatile _Business Lmfao really