The Reserve Bank has moved to attach the assets of the former CEO of the Steinhoff group, Markus Jooste KossyDerrickBlog KossyDerrickEnt

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Tuesday, October 18, 2022

The Reserve Bank has moved to attach the assets of the former CEO of the Steinhoff group, Markus Jooste

The Reserve Bank has moved to attach the assets of the former CEO of the Steinhoff group, Markus Jooste.

Jooste has been implicated in fraud within the group. The SA Reserve Bank received the go-ahead from the Western Cape High Court to attach all Jooste's assets, which amount to billions of rand in art, property, cars, a wine estate and a trust fund.

“[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. The Sarb executed the order today, 18 October 2022,” the central bank said in a brief post on Twitter, with a link to the court order.

A cursory glance at the order reveals that Jooste’s Lanzerac house in Stellenbosch and another house in Hermanus in the Western Cape has been attached, together with several vehicles, artworks and other assets.

The accounting scandal at Steinhoff brought the group to its knees, but it averted a total collapse after securing settlement agreements with several parties that initiated court action.

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