According to a statement sent by the authority, Jooste shared information with four of his friends to warn them to dispose of their shares.
Last year, the FSCA found that Steinhoff provided false, misleading or deceptive statements to the market and accordingly breached the provisions of the Financial Markets Act Jooste has been fined an administrative penalty of more than R161 million for breaching section 78 and section 78 of the Financial Markets Act.
The authority imposed a penalty of more than R3 million and a penalty of more than R18 000 on Marthinus Swiegelaar for a breach of the Financial Markets Act. Swiegelaar was Jooste’s chauffeur at the time of the contravention, and he also received the warning SMS on November 30 2017.
He must pay double that amount to compensate for covid-19 compliance and other expenses related to the sophistication of his laundering and racketeering escapades .
He should be in jail according to act 34 of 2004 for up to 10 years.
Insider trading is a criminal offence. He should be criminally charged.
Just a measly R241m
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