- Markus Jooste was the top guy of the billion rand Steinhoff group but since he bailed on it, it has lost most of its value
- Jooste is accused of fraud but his whereabouts are unknown at this time
- The billionaire is allegedly linked to an exclusive group that is accused of being less-than-friendly
Less than a year ago, the Steinhoff group was worth more than R190 billion. Today, it's worth just over R100 billion.
It seems that a financial giant that has grown over 50 years is crumbling apart. The company has allegedly lost a large part of its worth.
The 'big boss' of Steinhoff, Markus Jooste, has resigned and since then one after the other skeleton has been falling out of his closet, according to reports by News24.
Jooste is being investigated by the Hawks for irregularities with the company's books.
In the report by News24, it is noted that there are rumours a blonde mistress who lives in a Bantry Bay apartment, which is linked to Jooste.
Currently, it is not known where Jooste actually is. His lawyer confirmed that he is in the country but would not disclose his location.
The Mail&Guardian reports there are rumours of Jooste hiding in Argentina or Namibia.
What about rumours of involvement with the Stellenbosch Afrikaner Mafia?
This sensational question and many others are answered in a new book by James-Brent Styan - Steinhoff en die Stellenbosse Boys.
The book contains interviews with a number of sources close to Jooste. James-Brent Styan became a business journalist after working at an accountant's firm and this is his third book to be published.
According to an article published by Daehee & Co, Jooste is allegedly part of a Stellenbosch-based ‘old boys’ club’, where misogyny and racism were celebrated and he has the nickname The Seagull.
Briefly.co.za reported earlier that the Steinhoff fraud allegations put government employees’ pensions at risk. The PIC, who manages the pensions of civil servants, lost R18 billion after Steinhoff crash. People fear the recovery money might be taken out of their pensions.
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