A look at late Steinhoff CEO Markus Jooste's Hermanus mansion

25 Mar 2024

Jacaranda FM

Markus Jooste reportedly spent his last days in his Hermanus mansion.

Steinhoff’s Markus Jooste couldn’t find his passport – misses German court date. Image: Brenton Geach

Ex-Steinhoff CEO Markus Jooste, 63, reportedly shot and killed himself on Thursday, 21 March, leaving South Africans and many people in the world in shock.

Steinhoff Markus Jooste - Figure 1 — Photo Jacaranda FM

According to online reports, Jooste spent his last days at his holiday mansion in Hermanus, which was previously owned by billionaire Johann Rupert.

Look here:

Outside the home of Steinhoff mastermind, Markus Jooste. So far, we have only seen his son, Michael inside the yard. pic.twitter.com/1UPgD575Y9

— Veve (@LudidiVelani) March 22, 2024

#Steinhoff: Holiday compound: Markus Jooste’s other house in Hermanus, which he bought from the Rupert family. (Picture: Edrea du Toit) pic.twitter.com/ftmoi19liq

— News24 Business (@News24_Business) December 11, 2017

Jooste's death comes a day after he was slapped with a R475-million fine by the country's financial market watchdog, Financial Sector Conduct Authority (FCSA).

According to the National Prosecuting Authority, a warrant of arrest had been issued for Jooste.

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Police arrived at a home in Hermanus, about 120 kilometres from Cape Town, Malcolm Pojie, a SAPS provincial spokesman, said, and the deceased succumbed to a fatal gunshot wound after arriving at a hospital.

The ex-CEO is accused of using fake transactions to artificially inflate the group's profits.

"The investigation found that Mr Jooste... published false, misleading, or deceptive statements about Steinhoff International Holdings", which he knew to be "deceptive”, the FCSA said in a statement Wednesday.

The FCSA issued an April 19 deadline for the payment.

The South African reports that Jooste took his final steps down the famous Hermanus Cliff Path Walk, where he reportedly shot himself in the head at the end of the trail.

Hermanus residents, Western Cape, have shared details of what they witnessed following the suicide of former Steinhoff International CEO Markus Jooste's suicide. Jooste passed away, allegedly after shooting himself. @Nasiphi_Same reports.https://t.co/jqdNwVQTFV#Newzroom405 pic.twitter.com/gkgwUsuipN

— Newzroom Afrika (@Newzroom405) March 22, 2024

The 63-year-old allegedly used a silencer to reduce the sound of his gunshot.

Steinhoff was put under investigation in 2017 on suspicion of fraud, with a reported six-billion euro ($6.6-billion) hole in its accounts.

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Jooste resigned but denied any knowledge of accounting fraud.

The South Africa-based company, which is listed in both Frankfurt and Johannesburg, saw nearly 98 percent of its share value wiped out as it faced a barrage of litigation from aggrieved shareholders and business partners.

In June, a German court issued an arrest warrant against Jooste after he failed to appear at the start of his trial in April of last year.

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