Markus Jooste and Steinhoff - What happens next?

Markus Jooste and Steinhoff - What happens next?

South African authorities have given the first clear indication that they now have Markus Jooste in their scope. Journalist Christelle du Toit breaks the situation down.

Markus Jooste
Rodger Bosch / AFP

On Tuesday, the Western Cape High Court issued an order that gives the South African Reserve Bank (SARB) the go-ahead to seize assets belonging to Jooste and his family.

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The assets fall under a family trust called, Silver Oak, and among those assets is the multimillion-rand historic Lanzerac Wine Estate in Stellenbosch.

Advocate Mannie Witz has stated that a curator will be appointed to ensure that business continues as normal at Lanzerac.

Witz has also said that it is also still possible for Jooste to oppose the freezing of his assets.

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Jooste was Steinhoff CEO until 2017, when the company became embroiled in one of the biggest auditing scandals in South African history.

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Image: AFP

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