What we know about the charges against former Steinhoff CEO Markus Jooste

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Markus Jooste.
Markus Jooste.
Beeld

Steinhoff's former CEO Markus Jooste and two other former executives at the retail conglomerate have been charged by prosecutors in Oldenburg, Germany, with numerous counts of balance sheet manipulation.  

These are the first criminal charges against former executives of the Stellenbosch-headquartered furniture and household goods group, which almost went under three years ago after its auditors refused to sign off on its financials, leading to Jooste's abrupt resignation, a sudden selloff in its stock and an acute liquidity crunch.

While the public prosecutor's office in Oldenburg did not name the three former executives when it announced charges on Thursday, a source with knowledge of the probe confirmed that Jooste was among those charged.

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