South Africa
Jooste trial to begin in April in Germany─── 07:42 Sat, 28 Jan 2023
Former Steinhoff CEO Markus Jooste's fraud trial in Germany is set to finally get under way in April.
eNCA reports German authorities accuse Jooste of grossly inflating the company's profits, to make it look like Steinhoff was doing better than it actually was.
The Oldenburg Court in Germany has tentatively set aside 10 days for the trial.
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 manipulated.
The JSE imposed a R7.5 million fine and banned him from serving as a director of a listed company for 20 years.
It is unknown if Jooste will be extradited to Germany for the trial.
