The associate of former Steinhoff CEO Markus Jooste pleaded guilty to insider trading and was handed a five-year suspended sentence
03 October 2024 - 05:00
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In an age of old US presidents, there is no-one to touch Jimmy Carter — not even Joe Biden, who will turn 82 next month and is only the 10th oldest (but the oldest of those in office). Carter, the 39th president who served only one term, from 1977 to 1981, celebrated his 100th birthday on Tuesday. He still lives in the town of his birth, Plains, Georgia, where life expectancy for males in the year of his birth was 58; it is now 75. At the time Plains had 500 people; it now has 700. The US in 1924 had 114-million people; it now has about 330-million.
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A bad week for Gerhardus Burger
The net has taken a long time to close in on the Steinhoff suspects, but something dramatic moved last week. Soon after the National Prosecuting Authority hired two top gumshoes, Gerhardus Burger, an associate of former Steinhoff CEO Markus Jooste, was arrested by the Hawks for insider trading. Last Thursday, he pleaded guilty in the Pretoria Specialised Crimes Court and was handed a five-year suspended sentence. Jooste, who died by suicide in March, warned four friends, including Burger, of Steinhoff’s impending stock price collapse in 2017. This prompted three of them to sell their shares to avoid losses.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
A bad week for Gerhardus Burger
The associate of former Steinhoff CEO Markus Jooste pleaded guilty to insider trading and was handed a five-year suspended sentence
A good week for Jimmy Carter
In an age of old US presidents, there is no-one to touch Jimmy Carter — not even Joe Biden, who will turn 82 next month and is only the 10th oldest (but the oldest of those in office). Carter, the 39th president who served only one term, from 1977 to 1981, celebrated his 100th birthday on Tuesday. He still lives in the town of his birth, Plains, Georgia, where life expectancy for males in the year of his birth was 58; it is now 75. At the time Plains had 500 people; it now has 700. The US in 1924 had 114-million people; it now has about 330-million.
A bad week for Gerhardus Burger
The net has taken a long time to close in on the Steinhoff suspects, but something dramatic moved last week. Soon after the National Prosecuting Authority hired two top gumshoes, Gerhardus Burger, an associate of former Steinhoff CEO Markus Jooste, was arrested by the Hawks for insider trading. Last Thursday, he pleaded guilty in the Pretoria Specialised Crimes Court and was handed a five-year suspended sentence. Jooste, who died by suicide in March, warned four friends, including Burger, of Steinhoff’s impending stock price collapse in 2017. This prompted three of them to sell their shares to avoid losses.
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