Jooste In Steinhoff Scandal

South African news website IOL has reported that former Steinhoff International Chief Executive Markus Jooste has been given 48 hours by the National Horseracing Authority of Southern Africa to respond to allegations that he is “manipulating and controlling the horse industry in South Africa for his personal gain.”

According to Reuters, Jooste resigned from Steinhoff, an international retail holding company, earlier this month after the company launched an investigation into accounting irregularities.

NHA Chief Executive Lyndon Barends told IOL, “We have written to Mayfair Speculators, the vehicle that represents the racing interests of Mr. Jooste. We have given them 48 hours to revert to the NHA insofar as Mr. Jooste, Mayfair Speculators and his racing interests are concerned. Once we have received this submission we will then decide on the way forward.”

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