Poundland owner's ex-boss found dead of gunshot wound in South Africa, reports say
South African multinational retailer Steinhoff's former chief executive, Markus Jooste, was notified of an imminent arrest shortly before he was discovered fatally injured, according to police reports.
Jooste faced a nearly £20 million fine from South Africa's Financial Sector Conduct Authority (FSCA) for false accounting, issued on the same day as his arrest warrant. Alongside his former colleague Stephanus Grobler, Jooste was expected to surrender and appear in court.
However, Jooste was found injured on Thursday in a coastal area near Cape Town, where he later passed away from a gunshot wound en route to the hospital. Police stated there were no suspicious circumstances surrounding his death, which is currently under investigation.
Jooste's tenure at Steinhoff saw significant growth but also revealed accounting irregularities upon his departure in 2017. Despite denying awareness of the irregularities, Jooste was fined for misleading financial statements from 2014 to 2017.
The accounting scandal had severe repercussions for Steinhoff, including financial losses and legal challenges. The FSCA clarified that Jooste's death would not impact the ongoing investigation or the fine's recovery from his estate.
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