Markus Jooste

Assets include his Lanzerac wine farm, luxury vehicles, his home in Hermanus and his wife's jewellery.

The court allowed the Bank to attach the Joostes’ Hermanus home — including all movable assets inside, excluding food and clothing. According to a court order obtained by the Bank on Tuesday afternoon, Jooste is suspected of breaching exchange control regulations. Email [email protected] or call 0860 52 52 00.

Five years after the news broke of SA's biggest corporate scam, the South African Reserve Bank is going after disgraced former Steinhoff CEO Markus Jooste.

his house in Voëlklip, Hermanus...Pauli van Wyk, Investigative journalist - Daily Maverick's Scorpio unit perhaps that is why the Reserve Bank wants all books and documents containing information.Pauli van Wyk, Investigative journalist - Daily Maverick's Scorpio unit In the first instance, the Reserve Bank is trying to all assets but in the second instance - and perhaps even more importantly - it wants all books, all documents (printed or digital) that contain information that might be necessary for future investigations.Pauli van Wyk, Investigative journalist - Daily Maverick's Scorpio unit benefited from this alleged crime, then the Reserve Bank can attach those assets.Pauli van Wyk, Investigative journalist - Daily Maverick's Scorpio unit They're also attaching all assets linked to the Jooste family trust, Silver Oak Trust.Pauli van Wyk, Investigative journalist - Daily Maverick's Scorpio unit Bruce Whitfield interviews investigative journalist Pauli van Wyk (Daily Maverick's Scorpio unit) about the breaking story.

This is linked to his involvement in the Steinhoff accounting scandal.

“[The] Western Cape High Court has granted the South African Reserve Bank an ex parte order to attach the assets linked to former Steinhoff CEO Mark[us] Jooste. This is related to his involvement in the accounting scandal that rocked the one-time retail giant. [link](https://www.resbank.co.za/content/dam/sarb/publications/media-releases/2022/steinhoff/Court%20Order%20order%20to%20attach%20assets%20linked%20to%20former%20Steinhoff%20CEO%20Mark%20Jooste..pdf) to the court order.

The South African Reserve Bank (SARB) is in the process of attaching billions of rands of assets of former Steinhoff CEO Markus Jooste.

The financial collapse of Steinhoff saw thousands of local and foreign investors, ranging from small to major shareholders, losing their investments. The assets to be attached included those of the Silver Oak Trust, art worth about R98.78m, financial assets worth R1.21bn, loans receivable of R131.12m, Jooste’s house in Voelklip, Hermanus, at least six luxury vehicles, jewellery and other art worth some R795 400, books, documents, electronic devices and passwords, and the Lanzerac wine estate in Stellenbosch. The South African Reserve Bank (SARB) is in the process of attaching billions of rands of assets of former Steinhoff CEO Markus Jooste, the alleged ringleader in a financial fraud that saw investors lose more than R200 billion and resulted in the 95% collapse of the share price in 2017.

Markus Jooste, the disgraced former CEO of retail giant Steinhoff has suffered a major setback after the Western Cape granted the South African Reserve.

“Furthermore, Steinhoff International Holdings failed to publish voting rights notifications within the prescribed period. Sunday World has calculated that the company reported combined profits of R74.7-billion during the period. Steinhoff was at the time on its knees, fighting to stay afloat financially following an accounting scandal.

The SA Reserve Bank has attached Markus Jooste's mansion in Hermanus and the historic Lanzerac wine estate outside Stellenbosch on Tuesday afternoon.

But according to Steinhoff, the chain of ownership eventually points, at least in part, to Jooste. In return for Lanzerac wine estate and all its assets, Wiese and other plaintiffs received millions of Steinhoff shares, which have since fallen precipitously in value. King is known to be a friend and business associate of the former Steinhoff CEO. Jooste is at the centre of accounting manipulation that near-imploded the group. His wife Ingrid and son Michael Jooste are also respondents in the Reserve Bank case. Jooste bought his home in Voëlklip, Hermanus, from the Rupert family.

Former Steinhoff chairperson Christo Wiese has praised the SA Reserve Bank for attaching around R1.4 billion in assets linked to the retailer's ex-CEO ...

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The South African Reserve Bank (SARB) links former Steinhoff CEO Markus Jooste to R4.836-billion worth in contraventions of the Exchange Control Regulations ...

From the day these are received, Jooste would have 180 days in which to take the court decision on review. The SARB will attach all bank statements, accounting books and financials of Lanzerac Estate Investments, the court ordered. Instead of showing the truth, Ansley Holdings’ Annual Financial Statements and Steinhoff Group’s financial statements then showed an overstated R1.3-billion in net profit before tax. This is a contravention of the Regulations “committed primarily by Steinhoff At Work as facilitated by, inter alia, [Jooste]”, investigators said; The SARB therefore attached five properties registered to Lanzerac, situated in the Stellenbosch area. Even if these assets were not necessarily bought with money illegally syphoned from Steinhoff, they may be forfeited to the state if the SARB can prove its case. After Jooste simply did not pitch at a meeting called for him to explain away growing concerns over the retailer’s accounts, Steinhoff management was left to announce to an incredulous public that it had uncovered “accounting irregularities” and that Jooste had quit. The fine can also equal the amount of the contraventions committed. Lanzerac Estate Investments, the Registrar of Deeds in Cape Town and Jooste’s former chauffeur Petrus Albertus Venter were respondents six, seven and eight. The SARB argues Jooste used companies in the Steinhoff group as well as his racehorse company Mayfair Speculators to syphon money away from Steinhoff to enrich himself and others. The Western Cape High Court on 6 October granted the SARB an urgent, ex parte order heard in chambers allowing the attachment of assets with a realisable value that may clock up to several billion rands. The SARB also attached two cars and 11 plots of land at Val de Vie, Paarl, totalling almost 9,000m2.

The South African Reserve Bank (SARB) has seized assets belonging to former Steinhoff CEO Markus Jooste.

Note: Actual images of the cars could not be uncovered; for this reason, the pictures below are illustrative of the models represented. The court noted that such goods would not be removed from the property but photographed and inventoried. PwC further found that the fraud amounted to over R100 billion as executives used irregular fictitious transactions to their benefit in collaboration with third-party companies.

The assets include a wine farm in Stellenbosch and a property in Hermanus where the 61-year-old is understood to have been living, according to the papers ...

Shares in the company collapsed after financial irregularities were identified, and while the firm has survived, it exists as a shell of the former global behemoth over which Jooste presided. The move represents a potential advance in the painstaking process of bringing charges against Jooste, who legal authorities, regulatory investigations and lawsuits have pointed to as the architect of the accounting scandal that engulfed retailer Steinhoff in late 2017. These include a wine farm in Stellenbosch and a property in the coastal town of Hermanus, where the 61-year-old is understood to have been living, according to papers filed at the High Court in Cape Town.

The assets seized include Jooste's Lanzerac wine farm in Stellenbosch, his Hermanus property and other assets registered under his Silver Oak Trust valued ...

The assets seized include Jooste's Lanzerac wine farm in Stellenbosch, his Hermanus property and other assets registered under his Silver Oak Trust valued at R1.2 billion.

Legal expert Advocate Mannie Witz says a curator will be appointed to ensure that business continues as normal at Stellenbosch wine estate Lanzerac.

He has got a full opportunity to oppose it and put up reasons why the freezing should not have taken place" In other words he can't get a bond, sell, get business partners, can't do anything until a final court order is made. "What happens is when they freeze it, they normally appoint a curator.