People commit financial crimes because they have the motivation, the opportunity and the ability to rationalise what they do.
Why do people commit financial crimes? The answer to that is well researched.
But I wonder how much those around him are culpable too; not only his associates and his co-conspirators, but all the other struts and beams in the construction of our society that are supposed to guard against financial fraud and such moral decrepitude. Jooste failed us, that much is obvious, but to what extent did we fail him? Or is that just all too convoluted and labyrinthine?
If they think the chances of detection are high and the punishment is severe, then the risk of them committing financial crime are lower.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Markus Jooste shows why investors shouldn't meet execs, says asset managerMarkus Jooste shows why investors shouldn't meet execs, says asset manager
Read more »
Ex-Steinhoff CEO Markus Jooste slapped with R475 million fineFormer CEO of Steinhoff International Markus Jooste has been fined by the FSCA for publishing misleading company statements.
Read more »
Markus Jooste hit with R475m fine - but SA watchdog expects long legal fightMarkus Jooste hit with R475m fine - but SA watchdog expects long legal fight
Read more »
FSCA fines Markus Jooste R475 million, refers case to HawksThe R475 million fine for Jooste for publishing false financial statements and annual reports is the biggest ever for an individual.
Read more »
Ex-Steinhoff CEO Markus Jooste hit with R475m penalty for contravening sections of FMAThe FSCA said an investigation found that Jooste and Steinhoff's Dirk Schreiber made or published false, misleading, or deceptive statements about the firm, which they knew, or ought reasonably to have known, were false, misleading, or deceptive.
Read more »
Markus Jooste slapped with a R475m fine for Steinhoff misconductBut former finance chief Dirk Schreiber qualifies for a leniency agreement, thanks to his cooperation in the investigation.
Read more »