Former boss of Poundland owner Steinhoff reported to the police
The former chief executive of embattled retail giant Steinhoff has been reported to the police by the firm.
Markus Jooste resigned from Steinhoff, which owns Poundland and Bensons for Beds in the UK, last December when the company postponed its financial statements.
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The company told the South African parliament yesterday that it had reported Jooste under the Prevention and Combatting of Corrupt Practices Act.
Heather Sonn, acting chairperson of Steinhoff, told MPs that Jooste had been referred to an anti-corruption unit known as the Hawks.
“The matter is now in the hands of the Hawks for further investigation and prosecution,” Sonn said.
Meanwhile, South Africa’s Financial Services Board (FSB) is investigating possible cases of insider trading at Steinhoff.
In a presentation to South Africa’s parliament, the FSB said it had asked for information from the Frankfurt Stock Exchange, and confirmed that it was in contact with the Johannesburg Stock Exchange.
Steinhoff was thrown into turmoil last year after admitting to accounting irregularities, prompting its shares to plummet by 90 per cent. The firm has said it needs to restate both its 2016 and 2015 accounts.