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...Markus Jooste, the former chief executive of retailer Steinhoff who was allegedly at the heart of South Africa’s largest corporate fraud back in 2017, has died, according to a person close to him....
...“A small group of Steinhoff Group former executives and other non Steinhoff executives, led by a senior management executive, structured and implemented various transactions over a number of years which...
...The regulator also considered the fact that between 2014 and 2017, Jooste was paid R651.5mn by Steinhoff....
...“The collapse of Steinhoff, spearheaded by Marcus Jooste, remains one of South Africa’s most egregious corporate scandals....
...biggest names in short selling are joining forces to launch a new hedge fund, betting that a downturn in markets will help them replicate their successful wagers against companies such as Wirecard and Steinhoff...
...And one other thing: Former Steinhoff boss Markus Jooste, who was at the heart of South Africa’s largest corporate fraud, has died of a gunshot wound, according to people with knowledge of the matter....
...These days, after a series of asset sales, shareholder lawsuits and arcane creditor negotiations, Steinhoff is in hot water....
...Steinhoff had overpaid back then. It ended up taking €2.5bn of impairments on the business a year after buying it. Mattress Firm filed for bankruptcy in 2018....
...(The New Republic; elsewhere in SCOTUS rulings on Native American law) — Steinhoff? [puffs on cigarette] . . . haven’t heard that name in years....
...The company, which has 2,300 stores in the US, was bought in 2016 by South African retailer Steinhoff, which also owns Poundland in the UK....
...Steinhoff raised around €1bn from selling a 20 per cent stake in Pepco but still owns 78 per cent of the group....
...Witnesses such as former legal counsel Andrea Görres, ex-head of compliance Daniel Steinhoff and KPMG senior partner Sven-Olaf Leitz have testified about Braun’s dismissive attitude to compliance and disregard...
...Jackson was previously chief financial officer of the UK arm of Steinhoff International, the South African conglomerate that came close to collapse after accounting fraud was discovered in 2017....
...Private equity operators have in the past owned DFS, the UK market leader in sofas, and bed retailer Dreams while in 2019 Alteri acquired Bensons for Beds from South African conglomerate Steinhoff....
...Long-suffering Steinhoff shareholders should then enjoy a better night’s sleep....
...biggest names in short selling, are joining forces to launch a new hedge fund, betting that a downturn in markets will help them replicate their successful wagers against companies such as Wirecard and Steinhoff...
...of the biggest names in short selling are joining forces to launch a new hedge fund, betting that a downturn in markets will help them replicate successful wagers against companies such as Wirecard and Steinhoff...
...Brait has suffered heavy losses on its investments in retail conglomerate Steinhoff and in UK fashion retailer New Look....
...Struggling to settle with angry creditors and investors, Steinhoff hardly had the resources to nurture its European retail unit....
...The company’s owner, South African conglomerate Steinhoff, is selling part of its stake to reduce indebtedness following a financial scandal....
...Hedge funds’ bets against scandal-hit companies such as Wirecard, where funds made €1bn in a week, and Steinhoff highlight the important role they can play in identifying problem companies....
...A portion of shares will also be placed directly with some of Steinhoff’s lenders, following an earlier agreement between the conglomerate and its creditors....
...As well as Eichelmann, Wirecard's former head of compliance Daniel Steinhoff, who now works for the company's administrator, also testified on Thursday....
...Steinhoff said the settlement was being offered in both cash and shares in Pepkor, its South African retail business....
...Steinhoff wants investors to agree to easier terms....
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