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Former Poundland CEO Markus Jooste Passes Away from Gunshot Wound in South Africa”

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Markus Jooste, the former head of the Steinhoff retail group that was at the centre of a huge corporate fraud case in South Africa, has died.

Police said Jooste succumbed to a gunshot wound in hospital, with local media reporting he shot himself at his home in the southern town of Hermanus.

“The circumstances surrounding his death are being investigated,” police spokesperson Andre Traut said.

The group included retailers across Europe including the UK’s Poundland.

News of the 63-year-old’s death came a day after he was ordered to pay a $25m (£20m) fine.

The country’s financial regulator said Jooste had played a role in the publishing of misleading financial statements about Steinhoff International Holdings.

The retailer has suffered heavy losses, as have investors in South African pension funds, since an accounting scandal broke in 2017.

additional source : BBC news ( African)

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