Panama Papers: Steinhoff bosses used secret companies to get rich

EDINBURGH — Markus Jooste and the Steinhoff family including current Steinhoff director Angela Krüger-Steinhoff, pulled off a massive swindle over decades, with Steinhoff bigwigs on either side of deals designed to benefit themselves. This has been revealed by investigative journalists with amaBhungane in a piece published by the FM, which details how Jooste and friends constructed complex transactions across the globe. The Steinhoff scandal erupted around this time last year, with Jooste resigning amid allegations of financial irregularities. Over the past year, auditors have had to go back in time to follow the money. This latest information comes from the Panama Papers, a massive leak of information that has exposed many wealthy people for money laundering and is behind the jailing of former Pakistan Prime Minister Nawaz Sharif on corruption charges. – Jackie Cameron

By Thulasizwe Sithole

Former Steinhoff CEO Markus Jooste held secret stakes in

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