Fire sale by Markus Jooste has led to lower prices for Pierneefs
The former Steinhoff CEO has been selling various works through private dealers to raise funds, say sources
25 October 2019 - 16:50
A mass sale of art by former Steinhoff International CEO Markus Jooste caused a slump in the price of paintings by famed SA artist Jacob Hendrik Pierneef, according to people familiar with the matter.
Jooste quit as head of Steinhoff the day the global retailer reported accounting irregularities in late 2017, and has since been identified by the retailer as the chief architect of various financial dealings that triggered the company’s near collapse. He’s the subject of an R850m claim for damages by Steinhoff, among other lawsuits, though hasn’t been charged and denies wrongdoing...
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