HomeAfrica-NewsFormer Steinhoff boss Markus Jooste to go on trial in Germany next...

Former Steinhoff boss Markus Jooste to go on trial in Germany next year

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Former Steinhoff CEO Markus Jooste.


A court in Germany has announced that the accounting fraud trial of former Steinhoff chief executive Markus Jooste will begin early next year.

However, the Oldenberg regional court said in a press release on Thursday that it had not yet set a date for the case to start.

Jooste, two former Steinhoff executives and a fourth defendant, who did not work at the retailer, were indicted last year for balance sheet fraud carried out between July 2011 and January 2015.

READ | German prosecutors charge former Steinhoff CEO Markus Jooste with balance sheet fraud

The case was later split in two, partly due to travel restrictions caused by the Covid-19 pandemic.

The case against two former Steinhoff executives, who live in Germany, will begin on May 3 next year.

The second case involves Jooste and an unnamed 72-year-old co-defendant, who acted as trustee of a trust in the British Virgin Islands.

The Oldenburg court said it would share the start date for Jooste’s case as soon as it has been secured.

While German authorities have yet to officially name any of the defendants, a source with knowledge of the investigation previously told News24 that Jooste was one of the four accused.

On Thursday, the court referred to him as chief executive of Steinhoff International Holdings until the end of 2017.

Jooste’s South African lawyer did not immediately respond to a request for comment.

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