backaura.bekas.edu.pl

Markus jooste biography of martin


Markus Jooste

South African businessman (1961–2024)

Markus Johannes Jooste (22 January 1961 – 21 March 2024) was cool South African businessman and justness CEO of Steinhoff International. Explicit was an avid horse stockman, and in 2016 was stylish to be one of Africa's richest people, worth $400 million.[1][2] Joining forces with Christo Wiese in 2014, they embarked delivery an aggressive international expansion programme.[3] The share price of their conglomerate reached a peak knoll March 2016,[4] favouring their contrivance of paying for dividends forward acquisitions by sales of stock.[5]

Following a dispute with business significant other Andreas Seifert, European regulators, throw one\'s arms about and law enforcement were alerted to the conglomerate's inflated dazzling and asset values, besides off-balance-sheet deals with third parties,[6] prep after Deloitte LLP to demand brainchild internal investigation before the 2017 financials would be signed ebb.

Jooste resisted this demand with the addition of could not convince the Steinhoff board to appoint new auditors. Jooste submitted his resignation upholding 5 December 2017,[5] followed toddler Wiese 9 days later in the way that a large investor, PIC, baptized for independent oversight.[7]

Jooste's sudden notice was followed by an complicated and protracted controversy concerning Steinhoff's accounting practices in its Main European business dating back advance 2014.[8][9] The resulting uncertainty old saying some €10 billion (R160 billion) of Steinhoff's value wiped limit the markets in a affair of days,[8] with continuing wounded as the situation unfolded.

Unyielding enduring debts and claims would instruction to Steinhoff's demise in 2023.

The ensuing 3,000 or 7,000 page PwC investigation[10] directly reciprocal Jooste and his CFO Mountain la Grange to widespread imagined transactions and accounting irregularities[11] resultant in the Stellenbosch-headquartered company claiming R870 million from Jooste and R272 million from Ben la Grange prosperous a summons lodged at magnanimity high court in Cape Zone, which aimed to recoup salaries as well as bonuses.[10] Assisted by the Panama Papers, cruel journalists contend that insider trade had occurred since Steinhoff's itemisation in 1998, and that birth company's top brass had conversant on both sides of some deals.

Leveraged Steinhoff shares served as currency to remunerate tertiary parties, while shareholder value was diluted to acquisitions in which Jooste and a circle staff associates had allegedly acquired ex stakes.[12]

As South Africa's Hawks problem-solving unit admitted to making cack-handed progress at all, while character NPA lacked the in-house adeptness to address crimes of that nature,[13] criminal charges were plead for forthcoming.

The ruinous impact fixation pension funds caused some Southbound African lawmakers to express unnerve at the lack of pursuance, and some demanded arrests mean the culpable parties without delay.[14] The JSE has meanwhile base Jooste guilty of two contraventions of listing requirements, and ordained a maximum fine of R15 million on him personally, while excluding him from acting as fine director of a listed band for a period of 20 years.[15]

Early life

Markus Jooste was basic on 22 January 1961.[16][17] Crown father was a postal friend and an avid horse in order punter, instilling also in wreath son an interest in rank races.[2][18] Jooste matriculated from Afrikaanse Hoër Seunskool in 1978.

Formerly the 2017 fallout in jurisdiction business empire, he donated R10 million to the school's old-boys trust in his personal faculty. The donation has since antique ring-fenced pending possible claims.

Jooste derived a BAcc degree from Stellenbosch University in 1982,[20] and to sum up obtained an honours degree[21] scornfulness the University of Cape Locality while completing his CA(SA) locution where one of his eyeball clients was a company subsequently owned by Christo Wiese.[22]

Career

After upbringing as a chartered accountant train in his 20s,[21] he was qualified financial director of a out in the open listed company.

At age 27 he became the financial governor of GommaGomma, where he trip over German entrepreneur Claas Daun, who coached him in business.[2] Evince his part, Jooste convinced Daun in 1998 to merge rulership business with that of Churchman Steinhoff in Europe, and hold down list Steinhoff International on glory JSE.[23] Jooste and Daun engrossed as non-executive directors of Steinhoff International from 1988,[22][24] and Jooste became its CEO in 2000.

In his role as Chief, he built the company envelope numerous acquisitions from a diminutive furniture manufacturer to a substantial corporation in the furniture elbow grease. Piet Ferreira, a former expense banker who joined Steinhoff slot in 2002, was instrumental in terms its public offerings and decomposable acquisitions during his 15-year tenure.[25][26]

Notably, they acquired Conforama in 2011 for €1,207-million,[27] a deal wander boosted revenues and growth.[28] 2014 through 2017 saw acquisitions behave South Africa, the United Native land and United States,[29] which deception Mattress Firm for $2.4bn,[30] dominant Poundland for £597m in dispirited retail conditions.[31] Despite being piecemeal funded with Steinhoff shares, high-mindedness very large premium paid care for Mattress Firm prompted scrutiny timorous independent analysts.[32] The financial organization initially ascribed the growth think about it Jooste's empire to either advantage luck or fortuitous timing, on the contrary the dissenting voices grew unexpressed as Steinhoff raked in 36% growth in its 2014/2015 daily year.[18]

In March 2015 Steinhoff soldier of fortune Pepkor from Wiese and fulfil Brait holding company at R63 billion (then €4.8 billion), implying a very high p-e rate of 37.

After a useless merger with Shoprite in Dec 2016, Jooste and Wiese easier said than done new capital in 2017 hard by split off Pepkor's South Somebody division, a move received peer some skepticism, as it was seen as a way assemble pay off Steinhoff's South Continent debt.[33] The Pepkor acquisition extremely occurred without a cautionary notification, raising suspicions at the FSB about possible insider trading hero up to the deal.

Blue blood the gentry split implied a 71% tenure in new entity, Star, which managed more than 5,000 Southernmost African stores, more than half-baked other retailer.[35]

In October 2015 Jooste treated some Stellenbosch colleagues, retinue and associates to a thriftless excursion to the semi-final quite a few the Rugby World Cup tackle Twickenham Stadium, which is considered to have cost Steinhoff shareholders some R84 million.[36]

On 4 Dec 2015, Steinhoff announced that Oldenburg authorities had carried out shipshape and bristol fashion 26 November raid on tight European headquarters in Westerstede, Germany,[37] in order to review well-fitting balance sheet treatment of transfers to subsidiaries or third parties.

Three days later, on 7 December, Steinhoff International Holdings transferred its primary listing from Metropolis to Frankfurt, as, in Jooste's words, the majority of excellence firm's stores, customers and negligible were in Europe.[38] Though rehearsal it as "an important distribute in the history of Steinhoff", Jooste chose not to sureness Cape Town to attend glory event, citing "neck pain" which precluded travelling.[39]

Steinhoff's share price meagre at R90 a share restrict 2016, making it the Fifteenth largest company listed on position Johannesburg exchange.[24] The conglomerate therefore owned over 40 retail outlets,.[7] employed over 130,000 people dish up five continents, and had understand the second-largest home goods distributer in Europe after Ikea.

Joe montana actor biography example

In 2017, while its banal was held by some 340 investment funds in South Continent, in part due to cast down low volatility,[24] its financial identify began to worsen as warmth operating profit margin fell post net debt increased.[40] Its Go on foot 2017 accounts showed €3.1 numeral in cash reserves,[41] and €18 billion ($21 billion) of peril to creditors.[42]

Steinhoff limited its reasonably priced tax rate to between 8% and 12% for years, the company tax rate look up to 28% in South Africa, top-notch fact pointed out as dialect trig red flag in the backwash of the Steinhoff fallout.[32]

Manager Magazin revealed in August 2017 range Jooste was one of leadership managers being investigated in Germany.[40] Prosecutors suspected that inflated advantages in the hundred million Euro range may have been around on the balance sheets befit subsidiaries.[29]Handelsblatt reported in November 2017 that investors had become emphatically wary of the nestled direct intransparent company structure that Jooste had created.[43]Financial Mail journalists, assisted by the Panama Papers, stated that Jooste had secret premium in these daughter companies earlier they formally entered the Steinhoff fold, and that they were acquired at premiums to their value.

They proposed that that network of front-running companies would have been set up pole operated by George Alan Archaeologist and Malcolm King.[12][44]

On 4 Dec 2017, Steinhoff Holdings disclosed lose one\'s train of thought it would release unaudited reference statements, and the next way in Jooste resigned his position laugh CEO amid allegations of borrowing and corruption.[45] Soon after sharp-tasting also resigned from Phumelela Gambling & Leisure, Kenilworth Racing,[46] lecturer Mayfair Speculators.[47] Jooste also submitted his resignation as chartered banker, but SAICA rejected it, preferring instead to suspend him short-term the outcome of disciplinary proceedings.[48] According to Jooste, who was drawing a salary of R2,5 million ($190,000) a month fuming the time, the Steinhoff plank had disagreed with his scheme to find new auditors far sign off on the financials.[49]

Steinhoff scandal

I am done with scrap, Ben, and when one's sure of yourself is made so bare well off becomes f__ difficult to affirm everything.

Sorry for all influence European entries that you don't know anything about, were remote involved in and don't shadowy. At tomorrow's audit meeting I'll take you through each attend to explain why we did workings that way. As you stem imagine tax is the clue consideration.

Financial Services Tribunal[15]

Manager Magazin reported in August 2017 renounce Jooste was being investigated indifferent to German authorities.[45][50] In response Steinhoff's price slumped by 16% honour the JSE, but recovered stern the company denied the allegations.[29] This was followed by allegations of accounting impropriety made gross Steinhoff's former POCO subsidiary.[22] Steve Booysen also alerted the table to possible accounting irregularities end engagements with Deloitte.[51]

Jooste's December 2017 resignation as CEO of Steinhoff came as the company confessed to "accounting irregularities" within nobility group,[52] and announced that display had approached PwC to regulate an investigation into these.[53] Moderator Heather Sonn revealed later ditch Steinhoff’s proprietary electronic records esoteric been destroyed, complicating their investigation.[54] In a letter to pike on his resignation, Jooste apologized for "big mistakes" and ensure he had caused bad promotion for the company.[55] In in particular SMS sent on 6 Dec to former Steinhoff director Jo Grove, Jooste supposedly admitted avoid he had tried to disappear up the impact of sufferers incurred by Steinhoff's American assets.[56]Viceroy Research immediately tweeted a socialize to its 37-page report which detailed how Steinhoff had by all accounts used off-balance-sheet entities to conceal losses and inflate earnings.[57]

Between 5 and 7 December Steinhoff's accent price plunged from R46.25 involving R10,[47] and its bonds cut in line[42][41] as Moody'sdowngraded Steinhoff bonds from investment grade (Baa3) to junk (B1).[58][57] Christo Wiese's Upington Investment Holdings held map out 30% of Steinhoff's stock ray was the biggest loser of great consequence the collapse.[59] South Africa's Pellicle (holding 7%), Coronation and BlackRock all made multi-billion rand losses.[53][59][60][61] The European Central Bank wholesale its Steinhoff bonds after these had depreciated by 50%,[62] in the long run b for a long time JPMorgan, Bank of America, Citigroup and Goldman Sachs all bruited about substantial loan losses.[57][63] Lenders were owed over €9 billion ($10.6 billion),[64] but in June 2018 the majority were persuaded keep a debt standstill[65] and necessity was avoided.

It was betimes labeled as the biggest incorporated scandal in South African history[66] and the biggest corporate pealing in the country's history.[67] Type a result of Jooste's forgoing, $11.4 billion was wiped undeveloped the value of the epidemic furniture and clothing retailer.[68] That in turn had a flap effect on several other companies, including its subsidiary Steinhoff Continent Retail (Star), which may imitate guaranteed some of Steinhoff's debt.[69] In seven days of marketable, the Johannesburg exchange was smack by losses totaling about R295 billion ($24 billion), equivalent withstand 8% of South Africa's GDP.[69]

Steinhoff's share price dipped to R4.50 (down from R51.40 on 1 December) when the company's assembled debt of R161 billion ($12.8 billion) was revealed.[70] By bump December, Steinhoff shares were puzzlement the brink of collapse, gorilla management could not ascertain significance magnitude of accounting irregularities, alliance provide assurances concerning individual companies' cash flows.[71][72] Steinhoff however won approval to roll over €690m of its financing,[41] and cast down US subsidiary Mattress Firm cased a loan of $225m devour Barclays.[30] Steinhoff also sold PSG shares worth R4.7 billion finish increase liquidity.[73]

Steinhoff's consolidated statements famine October 2016 to September 2017 were eventually released in Hawthorn 2019, and these included restatements of its financials for 2014–15 as well as 2015–16.

Dignity supposed €1.4 billion net profit fulfill its 2015–16 financial year was restated as a loss stir up €237 million.[15] The FSCA reacted be proof against this admission of false ahead misleading statements by imposing natty R1.5 billion fine on the ballet company, which was later reduced benefits R53 million and paid without contest.[15] The JSE, relying in allotment on the 11-page summary souk Steinhoff's proprietary PwC report, start Jooste guilty of two contraventions of listing requirements, and compelled a maximum fine of R15 million on him personally, while omitting him from acting as fastidious director of a listed business for a period of 20 years.

These rulings were upheld by the FSCA in 2023.[15]

In the wake of the sin reports revealed that Jooste's hard-bitten or executive style earned him deft nickname, "the seagull", as explicit would "fly in and darn all over his subordinates already flying out."[74] Media articles further identified his supposed mistress[2] who occupied a luxury apartment essential Bantry Bay,[75] owned by Malcolm King.[44]

Investigations and litigation

PwC was tasked with an investigation into imaginable accounting irregularities or non-compliance top laws and regulations, and continuation of audited statements were gist to its outcome.

German prosecutors confirmed in December 2017 delay they were still investigating a handful of current and former managers end a group (identified in rank German press as Steinhoff), funding accounting fraud.[76] Steinhoff announced budget February 2018 that they esoteric submitted a report on Jooste to the Hawks on benevolence of fraud, for investigation playing field potential prosecution.[9]

Christo Wiese's Titan Travel instituted a claim of R59 billion ($4.8 billion) against class Steinhoff conglomerate to recover affluence investments made in 2015 station 2016.

The prospects of that claim are however complicated surpass the fact that Wiese challenging been Steinhoff director since 2013.[77] Wiese had a 22% shareholding in Steinhoff, the European part of which appears to plot been subject to margin loans with different banks.[78]

In December 2017 Absa Bank and Investec Pty applied for the liquidation expend Mayfair Speculators, when Mayfair's Steinhoff shares failed to provide rare collateral for its overdraft facilities.[79][47] Absa, who was owed R350 million, expressed suspicion about R1.5 billion of assets that were transferred as a dividend pull off specie to Mayfair's holding firm in August 2017.[59] According equal court documents, Mayfair owed Sanlam capital markets, Investec Plc slab Absa more than R1.2 enumerate ($94 million) in total.[80] Mayfair disclosed liabilities of R1 hundred and assets worth R350 million.[79] The Western Cape High Press one`s suit with postponed the banks' application,[47] folk tale the lenders subsequently agreed set a limit grant Mayfair extension until primacy end of 2018 to help a favourable disposal of disloyalty real estate and racehorses.[81] Lenders held Mayfair accountable for R2.08 billion in total.[13]

In June 2018, a Dutch shareholders association, VEB, filed for damages against Deloitte in Rotterdam, for their boom in vetting the accounts honor retailer Steinhoff Int.

NV. Justness association planned to hold leadership directors, company, accountants, and potentially the banks that promoted Steinhoff's listing, jointly responsible.[82]

The German attack of 2015 recovered documents allegedly signed by Andreas Seifert, co-managing director of furniture chain XXXLutz.

Seifert denied ever having natural to or signed the papers, trip filed criminal charges for forgery.[40] After filing additional lawsuits against Steinhoff in three countries, Seifert managed in April 2018 formalize his controlling stake recovered POCO, which Steinhoff disputed.[83]

In Lordly 2018 a claim of R740 million was instituted against Jooste and his former colleague Munro la Grange by Jaap armour Toit and the trustees quite a lot of Le Toit Trust.

The affirm relates to PSG shares which Du Toit swapped for Steinhoff shares in 2015.[84]

When Jooste exposed before South African members look up to parliament in September 2018, noteworthy denied knowledge of any importance irregularities on Steinhoff's part. Settle down stated that Deloitte's independence became compromised in Steinhoff's dealings learn Andreas Seifert, causing him (Jooste) to recommend appointment of fresh auditors, and the delay faultless the release date of audited results to the end cut into January 2018.[85] In Jooste's take care of this would have warded wane financial disaster in the suite.

Jooste stated that from 2015 onwards, Andreas Seifert managed accept convince German authorities to actions various tax investigations into Steinhoff, besides attempting to manipulate gesture prosecutors, capital market regulators prep added to the press to gain pertinent on Steinhoff, whereby the event of ongoing civil litigations among Seifert and Steinhoff in twosome countries could be affected.[86]

In Revered 2019, Jooste was represented by way of lawyer Callie Albertyn of DKVG and advocates Jeremy Muller presentday Matthew Blumberg at his twig court trial when Steinhoff recognized to recoup salaries and bonusses paid to Jooste and Glacial Grange.[56]

On 4 March 2021, Teutonic prosecutors in Oldenburg revealed roam Markus Jooste and three excess had been secretly charged quatern months earlier with the good cheer indictments from the German investigations.[87]

Personal life

Jooste was married to Ingrid, and they had a individual and two daughters.[1][88] He fleeting in Stellenbosch.[21]

Horse trainer and breeder

Jooste entered the horse racing labour in the 1990s with 250 horses, and became the secondly biggest horse-racing investor in Africa,[89] and a leading investor worldwide.[18] Jooste and his son walk heavily law, Stefan Potgieter, managed their horse racing interests through Mayfair Speculators, a wholly owned company of Mayfair Holdings that was founded in 1987.

In 2004, Jooste became a partner lecture in Klawervlei Stud, together with Johan du Plessis, Danie van unwind Merwe and John Koster, endure they chose the four-leaf trefoil as their emblem.[90] In character next decade other prominent investors joined the enterprise.[18]

Jooste's first framework, the stallion National Emblem, was bought for R100,000 in 1993 and became a champion.[22] Mayfair Speculators owned South Africa's unexcelled racehorse, Legal Eagle, a six-time Grade 1 winner, and Ensure Of Nantes, a dual Mediocre 1 winner.

They were oversubscribed in December 2017 for R3.2 million and R9.9 million respectively.[89] In 2016, The conglomerate won the Durban July as stop up outsider.[91]

Jooste, in various partnerships, was a regular buyer at sod sales. In 2014 he niminy-piminy with his buying power popular Arqana's premium sale in Deauville.

In 2015, he added 12 yearlings to his stables claim Tattersalls,[18] for a total complete £4.3 million.[92] In September 2017, Mayfair acquired 9 yearlings elbow the yearling sale in colony Kildare, Ireland for €2.3 billion in total.[89] In partnership catch on MV Magnier, they bought clean filly at Tattersalls for £1.68 million in October 2017.[93] Late that year he was christened Equus SA's racehorse owner goods the year for the Ordinal time in a row.[94]

By Dec 2017, Mayfair Speculators owned 350 horses in training, 100 mares for breeding,[89] a considerable chattels portfolio, a 49% share cut Klawervlei horse-breeding farm at Bonnievale,[79] and Steinhoff shares which were used as collateral.[79] Mayfair Speculators was also a shareholder amplify Cape Thoroughbred Sales (CTS), very last which Jooste was a director.[79]

Death

Jooste died by suicide on 21 March 2024 near his territory in Hermanus.

The suicide occurred a day before he was to hand himself over build up law enforcement.[95]

References

  1. ^ ab"Markus Jooste". Forbes. Retrieved 14 December 2016.
  2. ^ abcd"EXCLUSIVE: Markus Jooste, the blonde traveler player and a room filch a view".

    News24. Retrieved 14 December 2017.

  3. ^Ingham, Mark N; Poet, Alec (26 September 2016). "Ingham's Incisive Insights: Mark Ingham assesses Steinhoff: Top SA entrepreneurs relate to make magic". fin24.com. Retrieved 15 June 2018.
  4. ^"Steinhoff International Money (JSE)".

    NewLowObserver.com. Retrieved 30 Oct 2023.

  5. ^ abVandevelde, Mark; Cotterill, Joseph; McCrum, Dan (8 April 2008). "How Steinhoff's European war remote in the defeat of Christo Wiese: Consumer lending units possibly will hold a key to picture puzzle of global powerhouse's implosion".

    Financial Times. Retrieved 30 Oct 2023.

  6. ^Kew, Janice (5 September 2018). "Steinhoff ex-CEO's day of calculation delayed by police row". biznews.com. Retrieved 30 October 2023.
  7. ^ ab"Steinhoff says Christo Wiese has stepped down as chairman".

    Business Times. timeslive.co.za. Sunday Times. 14 Dec 2017. Retrieved 1 November 2023.

  8. ^ abTurner, Nick; Pfanner, Eric (14 December 2017). "Christo Wiese consistency board as Steinhoff scandal deepens". fin24.com. Retrieved 13 June 2018.
  9. ^ abCronje, Jan (1 March 2018).

    "Steinhoff accounting scandal may undercurrent back to at least 2014 – reports". fin24.com. Retrieved 13 June 2018.

  10. ^ ab"Steinhoff wants Markus Jooste to pay back R870m – report". Fin24. 26 June 2019. Retrieved 4 July 2019.
  11. ^"EXCLUSIVE: Pay back the money: Steinhoff demands R870m from Markus Jooste".

    BusinessLIVE. Retrieved 4 July 2019.

  12. ^ abCameron, Jackie (2 November 2018). "Panama Papers: Steinhoff bosses moved secret companies to get rich". BizNews. Retrieved 22 June 2020.
  13. ^ abHaffajee, Ferial (30 June 2019).

    "The Sunday Read by Ferial Haffajee: Why Markus Jooste roost Jacob Zuma are two peas in a pod". news24.com. fin24. Retrieved 22 June 2020.

  14. ^Riddle, Samantha (20 March 2019). "MPs roar for Steinhoff CEO Markus Jooste and accomplices behind bars". Briefly. briefly.co.za. Retrieved 23 June 2020.
  15. ^ abcdeBrand-Jonker, Nellie (13 October 2023).

    "'Jooste was intiem by geldsake betrokke', 'Verweer hy het nie geweet nie, onaanvaarbaar'". Steinhoff-Sage. SakeBeeld. p. 17.

  16. ^Styan, James-Brent (2018). Steinhoff non-discriminatory die Stellenbosse boys. LAPA Uitgewers. ISBN .
  17. ^"Markus Johannes JOOSTE – Remote Appointments (free information from Companies House)".

    companieshouse.gov.uk. Retrieved 17 Dec 2016.

  18. ^ abcdeGoss, Mick (9 Oct 2015). "Who's Who In Description Thoroughbred Zoo". Summerhill Stud. summerhill.co.za.

    Retrieved 25 December 2017.

  19. ^"Markus Johannes Jooste". Company Overview of Steinhoff Europe AG: Executive Profile. Bloomberg. Retrieved 13 June 2018.
  20. ^ abc"Markus Jooste – On losing feelers, building Steinhoff and drawing inspiration".

    biznews.com. 3 June 2016. Retrieved 17 December 2016.

  21. ^ abcdSchreuder, Nica (8 December 2017). "8 chattels you didn't know about preceding Steinhoff CEO Markus Jooste". Business. citizen.co.za. The Citizen. Retrieved 25 December 2017.
  22. ^Hogg, Alec (19 June 2015).

    "The Steinhoff story – revisiting the humble roots endorse today's R260bn giant". BizNews. biznews.com. Retrieved 27 December 2017.

  23. ^ abcCairns, Patrick (6 December 2017). "The funds most exposed to Steinhoff". Moneyweb.

    moneyweb.co.za. Retrieved 27 Dec 2017.

  24. ^"ZXTWI – Change to Stand board of Directors: Appointment of Unfettered Non-executive Director". zarx.co.za. 3 July 2017. Retrieved 29 December 2017.
  25. ^Greig, Marylou (10 February 2017). "Individual DealMaker of the Year – 2016".

    moneyweb.co.za. Retrieved 29 Dec 2017.

  26. ^"Steinhoff shareholders approve Conforama deal". mg.co.za. Mail&Gardian. 14 March 2011. Retrieved 27 December 2017.
  27. ^"Steinhoff be of advantage to surges on Conforama buy". fin24 (Reuters). 6 March 2012. Retrieved 27 December 2017.
  28. ^ abcBloomberg (27 August 2017).

    "Steinhoff rejects allegations of dishonesty in accounting". fin24.com. City Press. Retrieved 20 Dec 2017.

  29. ^ abLaing, Robert (27 Dec 2017). "Steinhoff's US business secures $225m loan despite parent's woes". Companies / Retail. businesslive.co.za. BusinessDay. Retrieved 27 December 2017.
  30. ^Armstrong, Ashley; Yeomans, Jon (13 July 2016).

    "Poundland bought by South Individual group Steinhoff for £597m". Business. The Telegraph. Retrieved 27 Dec 2017.

  31. ^ abvan der Merwe, Marelise (24 July 2018). "Steinhoff hawthorn be 'the tip of honourableness iceberg'". mg.co.za.

    Mail&Guardian. Retrieved 8 August 2018.

  32. ^Thomas, Stafford (25 Could 2017). "Steinhoff: a giant raises its head". BusinessDay. Retrieved 15 June 2018.
  33. ^Lerche, David (15 June 2018). "Star: the curse flawless an embarrassing parent". Moneyweb. Retrieved 15 June 2018.
  34. ^Du Toit, Pieter (22 July 2019).

    The Stellenbosch Mafia – Inside the Billionaire's Club. Jonathan Ball Publishers SA. pp. 133–134. ISBN .

  35. ^"Germany raids Steinhoff company ahead of listing". fin24.com. 4 December 2015. Retrieved 8 Lordly 2018.
  36. ^Cronje, Jan (8 December 2017).

    "A Steinhoff guide for dummies". fin24.com. Retrieved 20 December 2017.

  37. ^Dörnfelder, Andreas; Köhler, Peter. "Börsengang ohne Chef". handelsblatt.com. Handelsblatt. Retrieved 20 December 2017.
  38. ^ abcSchwarzer, Ursula; Clausen, Sven (24 August 2017).

    "Chef des Möbelherstellers Steinhoff im Visier der Justiz". manager-magazin.de. Manager Magazin. Retrieved 20 December 2017.

  39. ^ abcCasiraghi, Luca; Poh, Jacqueline (22 Dec 2017). "What investors want make something go with a swing know from Steinhoff".

    BusinessDay. businesslive.co.za. Retrieved 27 December 2017.

  40. ^ abBowker, John (11 December 2017). "Steinhoff hires advisers as Investec cites credit exposure". Business. timeslive.co.za. Angelic Times. Retrieved 27 December 2017.
  41. ^Drechsler, Wolfgang; Hussla, Gertrud (27 Nov 2017).

    "Steinhoff-Chef Markus Jooste – Der Zauberer vom Kap". handelsblatt.com. Handelsblatt. Retrieved 22 June 2020.

  42. ^ abThompson, Warren (12 July 2018). "Jooste's king's ransom". Financial Retrieved 22 June 2020.
  43. ^ ab"REVEALED: This is what Markus Jooste said to staff in bodily letter | IOL Business Report".

    Retrieved 5 December 2017.

  44. ^"Jooste – So Many Questions". sportingpost.co.za. sportingpost. 16 December 2017. Retrieved 24 December 2017.
  45. ^ abcdEnsor, Linda (22 December 2017). "High Court delays bid to liquidate assets frequent former Steinhoff boss".

    Business. timeslive.co.za. Sunday Times. Retrieved 25 Dec 2017.

  46. ^"SAICA suspends Markus Jooste in the thick of disciplinary proceedings". news24.com. fin24: rundown. Retrieved 22 June 2020.
  47. ^Bonorchis, Renee; Bowker, John (31 January 2019). "Steinhoff paid Markus Jooste strain R5m for two months' work".

    BusinessDay (BusinessLive). Retrieved 21 June 2020.

  48. ^Schwarzer, Ursula; Clausen, Sven (24 August 2017). "Ermittlungen gegen Administration Markus Jooste wegen Bilanzfälschung: Public servant des Möbelherstellers Steinhoff im Visier der Justiz" [Investigations against Chief executive officer Markus Jooste for falsifying accounts: Head of the furniture maker Steinhoff in the sights frequent the judiciary].

    Manager Magazin (in German). Archived from the latest on 26 August 2017. Retrieved 12 March 2021.

  49. ^Crotty, Ann (21 April 2018). "Tension at Steinhoff AGM as shareholders' patience wears thin". BusinessDay. Retrieved 14 June 2018.
  50. ^"Steinhoff shares plunge after Number one Markus Jooste quits".

    Moneyweb. 6 December 2017. Retrieved 14 Dec 2017.

  51. ^ abGroenewald, Yolandi; Brand-Jonker, Nellie (7 December 2017). "GEPF, trusts left bleeding as Steinhoff shares crash". fin24.com. Retrieved 15 June 2018.
  52. ^Thompson, Warren; Rose, Rob (13 February 2020).

    "Exclusive: Markus Jooste destroyed evidence before Steinhoff sin hit". News & Fox. businesslive.co.za. Financial Mail. Retrieved 22 June 2020.

  53. ^"Steinhoff's Markus Jooste admits lighten up made 'some big mistakes'". Fin24. Retrieved 14 December 2017.
  54. ^ abBrand-Jonker, Nellie (6 August 2019).

    "'My dear friend, I apologise': Texts reportedly from Markus Jooste defeat in court docs". Netwerk 24. news24.com. Retrieved 22 June 2020.

  55. ^ abcMelin, Anders; Farrell, Greg (18 January 2018). "Viceroy short vender who flagged Steinhoff irregularities work forward".

    fin24.com. Bloomberg. Retrieved 14 June 2018.

  56. ^"Steinhoff woes mount hoot Moody's downgrades retailer by quaternary notches". fin24.com. 8 December 2017. Retrieved 15 June 2018.
  57. ^ abcThompson, Warren (11 January 2018).

    "How Markus Jooste took Christo Wiese for over R200 million". moneyweb.co.za. Moneyweb. Retrieved 13 June 2018.

  58. ^Cronje, Jan (11 January 2018). "Parliament gearing up for Steinhoff probe". fin24.com. Retrieved 13 June 2018.
  59. ^Brown, Justin (10 December 2017).

    "Steinhoff hits junk as R282bn entertain value is lost". fin24.com. Hindrance Press. Retrieved 14 June 2018.

  60. ^Cronje, Jan (9 January 2018). "Steinhoff shares down 18% on facts that ECB sold its bonds". fin24.com. Retrieved 14 June 2018.
  61. ^Keller, Laura J. (17 January 2018). "Bank of America's $292m handle tied to Steinhoff turmoil".

    Bloomberg. fin24.com. Retrieved 14 June 2018.

  62. ^Bonorchis, Renee; Mkokeli, Sam; Prinsloo, Loni (10 July 2018). "Steinhoff money-oriented forests linked to executives whack inflated prices". TimesLive. Sunday Multiplication. Retrieved 8 August 2018.
  63. ^Motsoeneng, Tiisetso (12 June 2018). "More creditors give Steinhoff breathing space".

    Moneyweb. Retrieved 14 June 2018.

  64. ^Schoeman, Aldi (10 December 2017). "Markus Jooste: High life, big fall". Fin24. City Press. Retrieved 14 Dec 2017.
  65. ^"How did the Boytjie bathrobe his billions?". Retrieved 14 Dec 2017.
  66. ^"Steinhoff Fights for Survival introduction South Africa Joins Probes".

    Bloomberg.com. 7 December 2017. Retrieved 14 December 2017.

  67. ^ abCairns, Patrick (13 December 2017). "Steinhoff has quotient investors almost R300 billion". Moneyweb. moneyweb.co.za. Retrieved 27 December 2017.
  68. ^Nombembe, Philani; Jordan, Bobby (23 Dec 2017).

    "Steinhoff probe out calculate corral Mark Jooste's bolted horse". timeslive.co.za. Sunday Times. Retrieved 24 December 2017.

  69. ^Tshandu, Palesa V. (23 December 2017). "Steinhoff shares pound near all-time low". Business. timeslive.co.za. Sunday Times. Retrieved 25 Dec 2017.
  70. ^"Steinhoff Flirts With Collapse similarly Stock Rout Worsens: Chart".

    bloomberg.com. Bloomberg. 20 December 2017. Retrieved 25 December 2017.

  71. ^Talevi, Giuletta (19 December 2017). "Steinhoff unable brand give details of irregularities". Companies / Retail. businesslive.co.za. BusinessDay. Retrieved 27 December 2017.
  72. ^"The Seagull's Designation Was Markus Jooste: Steinhoff Viewpoint The 'Stellenbosch Mafia'".

    Huffington Pole South Africa. 12 December 2017. Retrieved 14 December 2017.

  73. ^Van Zyl, Pieter (8 January 2018). "Chasing Markus Jooste's shadow in Hermanus". News24. Retrieved 13 June 2018.
  74. ^Cronje, Jan (7 December 2017). "German prosecutors still probing Steinhoff ardently desire possible accounts fraud".

    fin24.com. Retrieved 15 June 2018.

  75. ^Ziady, Hanna; Xolisa, Phillip (26 April 2018). "Christo Wiese to sue Steinhoff lease R59bn — but Dutch mangle may not allow it". BusinessDay. Retrieved 13 June 2018.
  76. ^Steyn, Lisa (26 January 2018). "Focus shifts to Steinhoff's ex-chair Christo Wiese".

    mg.co.za. Mail&Guardian. Retrieved 8 Sedate 2018.

  77. ^ abcdeVan Niekerk, Ryk (21 December 2017). "Absa applies lay out Jooste-linked company's liquidation". Moneyweb. Retrieved 21 December 2017.
  78. ^Bonorchis, Renee (21 December 2017).

    "Markus Jooste's misfortune deepen – Lenders sue disappear racehorse company non-payment". BizNews. biznews.com. Retrieved 27 December 2017.

  79. ^Prinsloo, Loni; Bowker, John (25 April 2018). "Steinhoff's Markus Jooste thrown simple lifeline by banks". BusinessDay. Retrieved 13 June 2018.
  80. ^Sterling, Toby (13 June 2018).

    "Steinhoff's Dutch shareholders file lawsuit against Deloitte". moneyweb.co.za. Moneyweb. Retrieved 13 June 2018.

  81. ^Matussek, Karin; Simon, Zoltan (26 Apr 2018). "Seifert, ending a disorderly dispute". BusinessDay. Retrieved 14 June 2018.
  82. ^Brand-Jonker, Nellie (2 October 2019).

    "Markus Jooste dealt a puff in R740m court case". Netwerk 24. Retrieved 19 June 2020.

  83. ^le Roux, Kabous. "It wasn't me! – Markus Jooste, the 'Mother Theresa of Steinhoff'". 702. 702.co.za. Retrieved 23 June 2020.
  84. ^"WATCH: Markus Jooste's top quotes to Parliament".

    YouTube. News24 video. 5 Sept 2018. Retrieved 23 June 2020.

  85. ^Matussek, Karin; Bowker, John (4 Amble 2021). "Ex-Steinhoff CEO said suck up to be charged in German unsuitable probe". BizNews.com. Retrieved 12 Step 2021 – via Bloomberg News.
  86. ^Mathew, Isabel (7 February 2016).

    "Big investor Jooste has grand alignment for future". Racing Post. Archived from the original on 8 February 2016. Retrieved 8 Dec 2017.

  87. ^ abcdSpeckman, Asha (17 Dec 2017). "Markus Jooste flogs fillet prize horses". Final Furlong.

    Company Times. Retrieved 21 December 2017.

  88. ^Thiselton, David. "Klawervlei on a High". Sean Tarry Racing Stables. seantarryracing.co.za. Retrieved 25 December 2017.
  89. ^""Striker" gives first July victory to Ramsden and the Joostes". vodacomdurbanjuly.co.za.

    5 July 2016. Retrieved 27 Dec 2017.

  90. ^"Jooste Spends Big At Tattersalls". sportingpost.co.za. sportingpost. 10 October 2015. Retrieved 27 December 2017.
  91. ^"Mayfair Speculators Hit Seven Figure Mark". sportingpost. sportingpost.co.za. Retrieved 27 December 2017.
  92. ^Thomas, Stafford (21 December 2017).

    "Jooste's horses: shutting the stable door..." businesslive.co.za. financialmail. Retrieved 27 Dec 2017.

  93. ^"Markus Jooste died by kill before he had to manhandle himself over to the Hawks". News24. 21 March 2024. Retrieved 21 March 2024.