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Former Steinhoff CEO Markus Jooste found dead: a tragic end to the corporate scandal

Markus Jooste, the former chief executive officer of Steinhoff, has reportedly died from a gunshot wound. Steinhoff is a publicly traded company specialising in furniture and household items with operations in Europe, Africa, Asia, the United States, Australia, and New Zealand. Jooste's demise comes amidst a tumultuous period marked by legal battles and financial woes stemming from his involvement in what has been described as South Africa's largest corporate fraud. Since the accounting scandal in 2017 at Steinhoff large numbers of claims have been filed worldwide.

Photo © Anton Garin |

Just a day before his untimely death, South Africa's financial regulator levied a historic fine of €23.3 million against the 63-year-old for disseminating false financial statements spanning the years 2014 to 2017. Sources familiar with Jooste's legal predicaments reveal that he was not only facing potential arrest in South Africa but also contending with an outstanding fraud warrant issued in Germany.

Various sources, including the Financial Times, reported Jooste's death in the South African town of Hermanus. Although the police confirmed that a 63-year-old man had died from a gunshot wound to the head, no name was mentioned. News24 reports suicide as the cause and claims that Jooste died in the hospital.


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