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Markus Jooste, the former chief executive of retailer Steinhoff allegedly at the heart of South Africa’s largest corporate fraud back in 2017, has died, according to a person close to him.
Jooste’s death comes a day after the country’s financial regulator issued a record individual fine against the 63-year-old of R475mn ($25mn) for publishing false financial statements between 2014 and 2017, saying he had “intentionally lied”.
Sources said Jooste was facing the prospect of arrest in South Africa, though an arrest warrant was issued for him in Germany in recent months for this fraud.
This is a developing story
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