NPA: We are unaware of Markus Jooste balance sheet fraud charges in Germany
5 March 2021 1:46 PM
NPA spokesperson Sipho Ngwema says the reports emanated from one particular magazine.
The Steinhoff scandal shook the country in 2017 after it was revealed that corruption within the company resulted in investors in South Africa's pension funds and unit trust funds sustaining losses to the tune of billions.
The company to its knees with a massive disintegration of its share-price at that time.
Steinhoff International was dual-listed in Germany and South Africa.
While the CEO, Markus Jooste, resigned immediately, he was accused of being centrally involved in fraudulent transactions that artificially inflated profit and asset values over several years. He has, however, denied all allegations.