NEWS
31/01/2018 11:21 SAST | Updated 31/01/2018 11:27 SAST

Former Steinhoff CEO Jooste To Be Investigated By Hawks

"The matter is now in the hands of the Hawks for further investigation and prosecution."

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Steinhoff's new chair, Heather Sonn, said on Wednesday that Steinhoff has reported its former CEO, Markus Jooste, to the Hawks . A joint sitting of three parliamentary committees for a briefing was held to explain the challenges facing embattled retailer Steinhoff International.

According to Fin24, Sonn said that Jooste had been reported to the Hawks on suspicion that he had committed offences under the Prevention and Combating of Corrupt Activities Act.

"The matter is now in the hands of the Hawks for further investigation and prosecution," she told Parliament on Tuesday. She did not provide more information.

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In 2017, Jooste resigned with immediate effect, after the discovery of information relating to alleged financial misconduct prompted the German-listed company's supervisory, non-executive board to ask consultants PwC to perform an "independent investigation".

This is a developing story.