German authorities accuse Jooste of grossly inflating the company's profits, to make look like Steinhoff was doing better than it actually was.Jooste was charged by the authorities there, back in 2021.In December, the JSE found that his actions and failure to comply with the Listings Requirements, led to the publication of Steinhoff's 2016 financial statements, which were cooked.
The JSE imposed a R7.5 million fine and banned him from serving as a director, of a listed company for 20 years.Former Steinhoff CEO Markus Jooste's fraud trial in Germany is set to get underway in April finally. German authorities accuse Jooste of grossly inflating the company's profits to make it look like Steinhoff was doing better than it actually was.
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