German prosecutors probing Steinhoff CEO Markus Jooste (for accounting fraud)

Prosecutors in Germany are investigating Steinhoff CEO Markus Jooste and other senior managers for accounting fraud, according to Manager Magazine.

The South African furniture retailer is Europe’s second biggest, after IKEA.

Back in 2015, German tax authorities searched Steinhoff’s offices.

Steinhoff’s share price is down 10% on the day.

The Money Show’s Bruce Whitfield interviewed Steinhoff International Chairperson Christo Wiese.

Listen to the interview in the audio below (and/or scroll down for quotes from it).

One would have to be an angel not to be angered by this sort of drivel that has appeared in this magazine that I'm not familiar with.

Christo Wiese

The statement we issued deal with this thoroughly.

Christo Wiese

The statements are devoid of any truth.

Christo Wiese

This matter has been floating around since 2015.

Christo Wiese

The Frankfurt Stock Exchange is a very strict exchange.

Christo Wiese

It’s coupled to the ongoing arbitration proceedings with this former joint venture partner.

Christo Wiese

People in the real world know that people use these tactics to force a better outcome for themselves.

Christo Wiese

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This article first appeared on 702 : German prosecutors probing Steinhoff CEO Markus Jooste (for accounting fraud)


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