Former Steinhoff CEO Markus Jooste Allegedly Kills Himself, South Africans Suspicious

Former Steinhoff CEO Markus Jooste Allegedly Kills Himself, South Africans Suspicious

  • Steinhoff’s CEO Markus Jooste committed suicide days after he was fined almost half a million
  • The Financial Sector Conduct Authority fined him R475 million for publishing false and misleading statements
  • He allegedly shot himself when the police came to arrest him in his home

Tebogo Mokwena, a Briefly News current affairs journalist in Johannesburg, South Africa, covered police investigations and court cases at Daily Sun for over three years. Do you have a hard news story you would like to share? Email with CA in the subject line.

Steinhoff International's former CEO Markus Jooste allegedly committed suicide
Markus Jooste allegedly took his own life. Images: Brenton Geach/Gallo Images/Getty Images and William Whitehurst
Source: Getty Images

KWAAIWATER – Former CEO of Steinhoff, Markus Jooste, shot and killed himself on Thursday, 21 March, when he was getting arrested. He died from his gunshot wound on the way to the hospital.

Markus Jooste kills himself

According to SowetanLIVE, the incident took place at Kwaaiwater in the afternoon. He took his own life one day after the Financial Sector Conduct Authority fined Markus Jooste almost half a billion for publishing false and misleading statements during his tenure as the Steinhoff International CEO.

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The Steinhoff scandal hit the news in 2017 when it was discovered that the company overstated its financial results. This resulted in R21 billion from the Public Investment Company completely disappearing. There have not been any arrests, and Jooste’s arrest would have been the first.

South Africans doubt he killed himself

South Africans on Facebook were not confident that he was dead.

Zayne Gatyeni Mamali Potwana said:

“Show us the body. He might be in New Zealand now.”

Thembinkosi Taba said:

“I don’t buy this. Remember the Bosasa boss?”

Itumeleng Serumola asked:

“Is it possible to buy your death certificate and a new identity in South Africa if you’re wealthy enough?”

Shimi Dire said:

“I wonder how much officials get paid to cook up such.”

Ignatius Mduduzi Ntuli said:

“I’ve seen this movie before.”

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German authorities prepared to prosecute Markus Jooste

Previously, Briefly News reported that German authorities prepared to prosecute Markus Jooste.

The German courts charged him with fraud for manipulating the balance sheet and fraudulent transactions valued at R27 million.

South Africans were livid that the National Prosecuting Authority had not charged him then.

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Source: Briefly News

Tebogo Mokwena avatar

Tebogo Mokwena (Current Affairs editor) Tebogo Mokwena is a Current Affairs Editor at Briefly News. He has a Diploma in Journalism from ALISON. He joined Daily Sun, where he worked for 4 years covering politics, crime, entertainment, current affairs, policy, governance and art. He was also a sub-editor and journalist for Capricorn Post before joining Vutivi Business News in 2020, where he covered small business news policy and governance, analysis and profiles. He joined Briefly News in 2023. Tebogo passed a set of trainings by Google News Initiative Email:

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