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Christo Wiese could be in hot water again with the JSE
The local bourse has reopened a 2016 investigation that resulted in it receiving a public censure at the time
Less than a month after it settled a hefty R750m tax bill, industrial holding company Invicta, in which Christo Wiese is a major shareholder, could be in hot water again with the JSE. In another blow for Invicta, whose subsidiaries include the distributors of capital equipment, spare parts and engineering consumables in Southern Africa, the JSE has reopened a 2016 investigation that resulted in it receiving a public censure at the time. News of the JSE probe sent Invicta’s share price down 8.57% to R32 on Tuesday, and adds to a difficult year for Wiese. The billionaire businessman is also a major shareholder in Steinhoff, which is under investigation by various authorities in SA and Europe following revelations of accounting fraud in December 2017, which wiped out more than R190bn of its market value. Wiese, who stepped down as Steinhoff chair a week after the allegations came to light, is suing the furniture retailer for R59bn in damages. The JSE censured Invicta two years ago beca...
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