Steinhoff Ex-CEO Jooste Fined $9.9 Million for Insider Deals

Markus Jooste sent text messages warning friends to sell stock
Steinhoff almost collapsed in 2017 amid accounting scandal

Markus Jooste
Photographer: Rodger Bosch/Getty Images

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By Janice Kew and Loni Prinsloo

October 30, 2020 at 4:51 AM EDT

Updated on

October 30, 2020 at 9:24 AM EDT

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Steinhoff International Holdings NV former Chief Executive Officer Markus Jooste has been fined more than 162 million rand ($9.9 million) by a South African regulator for insider trading ahead of the retailer’s near collapse almost three years ago.