Ex Steinhoff CEO denies knowing anything about accounting irregularities

5 September 2018 1:41 PM

Former Steinhoff CEO Markus Jooste makes his first public appearance in months as he appears in Parliament, to answer questions about what happened at the company last year when R200 billion was wiped off its market value.

It dropped about 95%, and there has been an investigation into what happened with reports of irregularities and also possible criminal activities.

READ: ‘Steinhoff: Inside SA’s Biggest Corporate Crash’ author reveals shocking details

Jooste’s departure and the announcement of an investigation into suspected fraud triggered the collapse of the company’s share price.

Speaking to Ray White on The Midday Report, EWN parliamentary correspondent Gaye Davis says Jooste was accompanied by lawyers including two senior council and were allowed to give a brief overview of what happened.

During which he made the claim that he had no knowledge of accounting irregularities at Steinhoff when he left in December.
— Gaye Davis, EWN Parliamentary Correspondent

Basically, he is saying that all of this started with a deal that went sour.
— Gaye Davis, EWN Parliamentary Correspondent

Also speaking to White, PSA deputy general manager Tahir Maepa says he is sitting behind Jooste in Parliament.

I am sitting right behind him and I am listening to this nonsense and I am saying to myself it is amazing, it is really amazing.
— Tahir Maepa, PSA deputy general manager

I think it is a result of nine months of prepping him, he has got two councils here and two lawyers who are guarding him like hawks in terms of what he says and how he answers it and so forth.
— Tahir Maepa, PSA deputy general manager

It is clear that he has been prepped and he is being very careful in terms of how he answers and how he deals with the MPs here.
— Tahir Maepa, PSA deputy general manager

Saftu spokesperson Patrick Craven also weighed in on the Jooste's appearance and says it is clear that this is a serious problem.

The estimated loss to the country is as a result of Steinhoff's activities amounts to more than the estimated losses of all the Gupta related scandals.
— Patrick Craven

Listen below to the full interview:

Written by: Matshepo Sehloho