The local criminal investigation into the Steinhoff scandal is still ongoing, authorities said on Wednesday, after former chief executive Markus Jooste failed in his bid to overturn the JSE’s decision to bar him from serving as director of a listed entity for the next two decades.
The sanction imposed by the JSE on Jooste for breaches committed in the biggest balance sheet scandal in South African corporate history also included two fines totalling R15 million.
Jooste applied to the Financial Services Tribunal in mid-December for an order for the suspension and reconsideration of the JSE’s decisions, which the stock exchange opposed.
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