EXCLUSIVE | Leaked Steinhoff letter shows how key directors backed Jooste, 'totally aware of risks'

accreditation
Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
loading...
Loading, please wait...
0:00
play article
Subscribers can listen to this article
Former chief executive of Steinhoff, Markus Jooste.
Former chief executive of Steinhoff, Markus Jooste.
Jaco Marais/Netwerk24

Two of the most important members of Steinhoff's board – former chair Len Konar and the former head of the audit and risk committee, Steve Booysen –  appear to back former CEO Marcus Jooste and his strategic ventures with the suspect Talgarth Group to the hilt in a letter less than two months before Jooste resigned.

The explosive letter, a copy of which Fin24 has obtained, poses fresh questions about the role and oversight of Steinhoff’s directors in one of the biggest frauds in South African corporate history. This is the first time the letter, that may open up a defence for Jooste, has publicly surfaced. 

Steinhoff's relationship with Talgarth, a shadowy entity registered in the tax haven of the British Virgin Islands, has taken centre stage in probes into the multibillion-rand accounting fraud that inflated Steinhoff's assets, making it appear more profitable than it was.

Read this for free
Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.
Subscribe
Already a subscriber? Sign in
Rand - Dollar
16.56
-1.0%
Rand - Pound
20.05
-1.0%
Rand - Euro
16.86
-1.1%
Rand - Aus dollar
11.53
-0.1%
Rand - Yen
0.12
-0.6%
Gold
1,773.51
-0.1%
Silver
19.94
-1.0%
Palladium
2,147.62
-0.6%
Platinum
930.00
-0.9%
Brent Crude
92.34
-3.0%
Top 40
64,193
-0.8%
All Share
71,014
-0.7%
Resource 10
63,067
-3.6%
Industrial 25
87,440
+0.4%
Financial 15
16,253
+0.1%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders