Western Cape police don't suspect foul play in Markus Jooste death

JOHANNESBURG - Western Cape police say they don't suspect any foul play following the death of former Steinhoff CEO Markus Jooste.

Police said Jooste succumbed to a gunshot wound after he allegedly shot himself on Thursday outside his home.

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Jooste is known to have played a role in growing the retailer into a multinational company, but he had been under investigation for many years for the collapse of Steinhoff.

His death came after the Financial Sector Conduct Authority (FSCA) slapped him with a R475 million fine this week, for his involvement in accounting fraud at the giant retailer.

The authority had given him until 19 April to make the payment.

“It’s alleged the victim succumbed to a gunshot wound at Kwaaiwater and succumbed to death on his way to hospital,” said police spokesperson André Traut.

“The circumstances surrounding his death are being investigated.”

Meanwhile, author and journalist Rob Rose - who wrote a book detailing the collapse of global retailer Steinhoff - said he was shocked by Jooste’s death.

Rose reflected on his life, painting a picture of his character.

“He lived a relatively reclusive lifestyle, although he was being seen out more and more. Perhaps the expectation was that criminal charges against him would never see the light of day.”