A German court has issued an arrest warrant for Markus Jooste, the former Chief Executive Officer, of the scandal-ridden retailer Steinhoff International Holdings, after he pulled a no-show for trial there.
Former Steinhoff CEO Markus Jooste
Steinhoff has been battling to stay afloat, more than five years since auditors refused to sign off on its accounts. This prompted Jooste’s resignation and caused a freefall of the company’s share-price, as well as, criminal and regulatory investigations in both Europe and South Africa. Jooste was charged in Germany and the trial was scheduled to start in April but couldn’t continue due to his failure to attend.SABC News correspondent Trent Murray updates:
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