A 79-year-old suspect will appear in the Pretoria specialised commercial crimes court on Thursday in connection with the Steinhoff matter.
He was arrested earlier on Thursday by the Hawks’ serious economic offences unit.
“The arrest emanates from an ongoing investigation into Steinhoff, where in November 2017, then CEO Markus Jooste is said to have shared information on the selling of Steinhoff shares before they [dropped].
“Allegations are the suspect received a tip-off from Jooste to sell his shares before their price dropped due to irregularities in the Steinhoff financial statements,” Hawks spokesperson Col Katlego Mogale said.
The man faces three counts relating to contravention of the Financial Markets Act.
Another suspect to appear in Pretoria court over Steinhoff saga
Reporter
Image: Bloomberg
A 79-year-old suspect will appear in the Pretoria specialised commercial crimes court on Thursday in connection with the Steinhoff matter.
He was arrested earlier on Thursday by the Hawks’ serious economic offences unit.
“The arrest emanates from an ongoing investigation into Steinhoff, where in November 2017, then CEO Markus Jooste is said to have shared information on the selling of Steinhoff shares before they [dropped].
“Allegations are the suspect received a tip-off from Jooste to sell his shares before their price dropped due to irregularities in the Steinhoff financial statements,” Hawks spokesperson Col Katlego Mogale said.
The man faces three counts relating to contravention of the Financial Markets Act.
His arrest comes after that of former Steinhoff CFO Andries Benjamin la Grange, who was taken into custody in June and later granted R150,000 bail in the same court.
La Grange faces two counts of racketeering, five of fraud, one of corruption and three counts of contravention of the Financial Markets Act in relation to the Steinhoff investigation.
According to the National Prosecuting Authority between 2014 and 2016, Jooste, who is deceased, and another man conducted racketeering activities in the Steinhoff group as it was captured by executive employees.
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