Markus Jooste leaves wife firearms, artwork, policies, cars and almost R74K in cash
The assets outlined in his will are entangled in police investigations or criminal proceedings.
FILE: Former Steinhoff CEO, Markus Jooste. Picture: AFP
John Perlman interviews Mannie Witz, an Advocate at the Bridge Group of Advocates.
Listen below.
Markus Jooste, who took his own life in March, left his wife a collection of three firearms, eight vehicles, assorted artworks, two policies, a retirement annuity, and nearly R74 000 in cash.
The South African Reserve Bank has frozen much of Jooste's other assets. The Financial Sector Conduct Authority (FSCA) aims to recover a fine of R475 million (relating to misleading financial statements at Steinhoff) from Jooste's estate.
RELATED: BREAKING NEWS: Markus Jooste reported dead after allegedly shooting himself
Witz says it's common for family members and beneficiaries to bear the brunt of the consequences when an alleged fraudster dies.
The Director of Public Prosecutions oversees the 'powerful' Asset Forfeiture Unit, which operates under the Prevention of Organised Crime Act.
This unit has the authority to approach the court, furnish evidence via affidavit to demonstrate that the assets are the proceeds of crime, either directly or indirectly, and to secure an order to freeze them.
Once an interim order is obtained, it is served to all relevant parties, who have 10 to 14 days to contest it.
"It is actually very, very common. It's not anything out of the ordinary."
- Mannie Witz, Bridge Group of Advocates
"They were ready to arrest him, so obviously the investigation is completed."
- Mannie Witz, Advocate – Bridge Group of Advocates
Scroll up to the audio player to listen to the interview.