JOHANNESBURG - Former Steinhoff chair Christo Wiese has lauded the seizure of disgraced ex-CEO Markus Jootse's assents.
This comes five years after news of an accounting scandal broke sending the company’s shares crashing by 95%.
A PwC audit on the company showed that former executives, including Jooste, inflated the profits of the company as well as the value of its assets.
The Reserve Bank has seized almost R1.4 billion worth of assets including Jooste’s home in Hermanus, the Lanzerac estate in Stellenbosch, as well as jewellery, art and cars.
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