Steinhoff's legal battle to recover bonuses from Jooste could set precedent
John Perlman spoke to editor of 'Financial Mail', Rob Rose, about Steinhoff's legal battle to recover R870 million in bonuses paid to former CEO Markus Jooste.
It's been a few years since the Steinhoff fraud scandal and while former CEO Markus Jooste doesn’t appear to have any criminal case to answer for in his near future, he is undergoing a corporate legal battle with Steinhoff around R870 million in bonuses.
John Perlman spoke to editor of Financial Mail, Rob Rose, who authored the book Steinheist about the case.
Steinhoff has said that Jooste has to pay back this value of bonuses because they were awarded based on fraudulent results.
Jooste has said very little on the matter, claiming he has no knowledge of the allegations against him.
If Jooste loses that case or admits to the allegations, he would have to pay back the R870 million.
It is likely that the corporation and corporate lawyers will have more success pushing their case than a criminal case at this point because they have greater resources.
To find out more, listen to the full interview below.
This article first appeared on 702 : Steinhoff's legal battle to recover bonuses from Jooste could set precedent