Anatomy of a con
Inside Steinhoff's house of cards
The chicken have come home to Jooste
"The authorities worldwide are looking for more tax ... you must remember, it’s a game for money. We always had huge difficulty settling tax, because how do you settle? It’s either right or it’s wrong." These were the prophetic words of Markus Jooste (56) who until last week was CEO of retail giant Steinhoff International, in an interview with the Financial Mail two months ago.A "game for money" is an odd choice of words since Jooste was, at the time, the pivotal figure in a German tax investigation that hinged on whether Steinhoff had cooked its books. (The Germans were investigating, because Steinhoff had listed on the Frankfurt Stock Exchange in December 2015.) Jooste, the charming son of a Post Office worker and one of the unofficial dons of the so-called Stellenbosch mafia, said at the time that it was all a media witch-hunt. "They twist it to make it sensational — it’s the same as we had here in SA. But at the end of the day, what will happen will happen." Those media reports,...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.