MPs warn Jooste to come clean

SAfm — Former CEO of retail giant Steinhoff International Holdings, Markus Jooste, says he lost 3 billion rand after the company’s share price fell as the accounting scandal emerged last year. Jooste resigned last December as the company’s advisory board decided that a new probe should be instituted into allegations of fraud. He says he was not willing to go through another probe when there had been an independent investigation by German authorities. He says the delay in the release of the financial results would have reflected badly on him as CEO. Meanwhile chairperson of Parliament's Portfolio on Finance Yunus Carrim has warned Jooste that his reluctance to come clean about what transpired at the company may work against him in future.