Steinhoff Saga | Jooste trial to begin in April in Germany

JOHANNESBURG - Former Steinhoff CEO Markus Jooste's fraud trial in Germany is set to finally get underway in April.

German authorities accuse Jooste of grossly inflating the company's profits, to make look like Steinhoff was doing better than it actually was.   

The Oldenburg Court in Germany has tentatively set aside 10 days for the trial.   

Jooste was charged by the authorities there, back in 2021.

READ: JSE fines Jooste R7.5m, bans him for 20 years

In December, the JSE found that his actions and failure to comply with the Listings Requirements, led to the publication of Steinhoff's 2016 financial statements, which were cooked.  

The JSE imposed a R7.5 million fine and banned him from serving as a director, of a listed company for 20 years.

It is not known if Jooste will be extradited to Germany, for trial.

Former Steinhoff CEO Markus Jooste's fraud trial in Germany is set to get underway in April finally. German authorities accuse Jooste of grossly inflating the company's profits to make it look like Steinhoff was doing better than it actually was. #DStv403 #eNCA pic.twitter.com/5USFzdcWmz

— eNCA (@eNCA) January 27, 2023