Who is Markus Jooste and what does he have to do with the 'Stellenbosch mafia'?

Who is Markus Jooste and what does he have to do with the 'Stellenbosch mafia'?

- 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

PAY ATTENTION: Click “See First” under the “Following” tab to see Briefly.co.za News on your News Feed!

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.

READ ALSO: The average salary for a South African CEO is a hefty R24.9m a year

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.

Do you have a good (or bad) story that needs to be told? Let us know on our Facebook page and we could be telling your story.

To stay up to date with the latest news, download our news app on Google Play or iTunes today.

Watch Top 5: South Africa's richest people and take a look at what else is new on Briefly South Africa's YouTube channel.

Source: Briefly.co.za

Related news
Fun-loving gogos roll back the years with ‘walking stick vosho’

Fun-loving gogos roll back the years with ‘walking stick vosho’

Fun-loving gogos roll back the years with ‘walking stick vosho’
Briefly.co.za
Mailfire view pixel