Steinhoff saga: CEO Markus Jooste's co-accused to hear bail application outcome

JOHANNESBURG - Former Steinhoff head of legal Stephan Grobler is set to be back at the Specialised Commercial Crimes Court for the outcome of his bail application on Monday.

Grobler spent the weekend behind bars after handing himself over to police last week for his alleged involvement in the high-profile Steinhoff fraud case.

He faces charges of fraud, racketeering and contravention of the Financial Markets Act.

Grobler was set to be arrested alongside Steinhoff's former CEO Markus Jooste who died last week allegedly by suicide.

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Earlier in the week, the Financial Service Conduct Authority slapped Jooste with a R475 million fine for fraud relating to Steinhoff. 

Chief investment officer at Benguela Fund Managers, Zwelakhe Mnguni, was among the first to raise red flags about the Steinhoff rot.

He said Jooste did not pay the ultimate price for South Africa's biggest corporate scandal.

"He robbed us the opportunity to get justice, where he could be held accountable for his action and an example could be made of him. He should have been in jail for a very long time."