Latest news with #MarkusJooste
IOL News
a day ago
- Business
- IOL News
Mystery surrounds Markus Jooste's 'death'. Show us the grave!
Former CEO Markus Jooste's alleged death remains unclear and unconvincing, says a political expert. Image: Armand Hough/African News Agency (ANA) The mystery surrounding the alleged death of former Steinhoff CEO Markus Jooste has given rise to conspiracy theories, reflecting a growing lack of trust in law enforcement, according to a respected political analyst. As the dust settles on a R6.3 billion agreement between the South African Reserve Bank and Ibex Holdings, the former Steinhoff empire, a far more unsettling question refuses to go away. No one can say where Jooste was buried. While a statement by the SARB confirmed that both parties reached a settlement allowing Ibex to wind down operations, repay creditors, and conclude all related legal proceedings, the nation is still asking, ''Where is the proof that Jooste is truly dead?'' After the full extent of the Steinhoff scandal came to light, Jooste was fined last March R475 million by the Financial Sector Conduct Authority (FSCA) for accounting fraud. He allegedly took his own life shortly after being informed that an arrest warrant had been issued against him, a death that has since been shrouded in mystery. This ongoing uncertainty has led to growing concerns about the lack of transparency from the authorities and those around Jooste. Political analyst Kenneth Mokgatlhe also raised doubts about Markus Jooste's reported death, saying the details remain unclear and unconvincing. 'Markus Jooste's death remains a mystery, details are very sketchy, and to be honest, I am not absolutely convinced that he died,' Mokgatlhe said. Adding that conspiracy theories reflect a growing lack of trust in the police, Mokgatlhe said: 'The public's engagement with these theories signals a deep loss of confidence in the agencies meant to bring closure to such high-profile cases. ''The police's silence is concerning, and when you consider it alongside the serious allegations made by Commissioner Mkhwanazi, it highlights the glaring weaknesses within SAPS.' Mokgatlhe warned that this situation could have serious political consequences. 'It adds to the ongoing challenges facing the police service and further erodes public faith in the system.' He further stated that the state must confront growing public mistrust by thoroughly investigating Jooste's alleged death and presenting clear evidence to confirm it. 'The government must provide concrete proof to put this matter to rest. Right now, it creates the impression that Jooste is being shielded by powerful political interests,' he said. Mokgatlhe also criticised the perceived racial disparity in how corruption cases are handled in South Africa, arguing that white individuals often escape accountability. 'For instance, look at how Maria Ramos was left unpunished after acknowledging that she manipulated our currency. Nothing happened to her. Look at what happened to Adv. Mkhwebane, when she went after the likes of Absa, she was victimised,' he added. As previously reported by IOL, Western Cape police dismissed the allegations as unfounded, stating that a post-mortem had been conducted and the report filed in the docket for court proceedings. 'The investigation into the death of the late Mr Jooste had been concluded, and the docket was submitted to the National Prosecuting Authority to be placed on the court roll where a formal inquest will be conducted. "The firearm used during the incident was subjected to ballistic tests. Thereafter, returned to the executor as the weapon was registered in the name of the deceased. A report of the ballistic test is filed in the docket for court purposes. The result of both reports will only be disclosed during the formal inquest hearing in court. The date is yet to be determined,' read the statement. Meanwhile, uncertainty continues to surround Jooste's reported death, with little clarity offered by officials. The lack of open communication has intensified public doubt, reinforcing the need for accountability and clear answers to maintain confidence in the justice system. The Star
IOL News
4 days ago
- Business
- IOL News
The great Steinhoff heist: R28bn later and nobody went to jail
Former Steinhoff chief executive Markus Jooste mysteriously died by suicide, leaving many questions unanswered. Jooste, resigned when PwC was appointed to investigate accounting irregularities. Image: Armand Hough/African News Agency (ANA) IN a decisive move that closes the chapter on one of South Africa's most infamous corporate scandals, Ibex Investment Holdings — formerly Steinhoff International — has sold its entire 28.48% stake in Pepkor Holdings for about R28 billion. The transaction not only marks the financial and symbolic end of the Steinhoff era but also signals a seismic shift in the country's retail and investment landscape. Steinhoff has spent years untangling the wreckage of the 2017 accounting scandal that erupted when auditors refused to sign off the group's financial statements. As the SA Reserve Bank (Sarb) noted in a statement released this week: 'The discovery of the now well-known accounting irregularities in the Steinhoff Group resulted in the immediate and sharp decline in Steinhoff's share price… eroding approximately 90% of the company's market capitalisation. 'This company crisis threatened the Steinhoff Group's continued existence and risked consequences, including forced asset sales or 'fire sales', significant losses to South African and foreign financial institutions and investors, and extensive job losses in South Africa and abroad. It also risked significantly affecting South Africa's reputation as one of the most robust and well-regulated financial markets in the world.' Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ The fallout revealed irregular transactions totalling €6.5bn (R120bn), as uncovered by PwC's forensic investigation. The scandal triggered a cascade of regulatory probes, shareholder lawsuits, and a catastrophic loss of investor confidence across global markets. In 2023, Steinhoff officially rebranded as Ibex as part of its restructuring efforts to settle debts and salvage value. According to SARB: 'These processes resulted in the Steinhoff Group fully repaying over R28bn owed to South African banks in 2018 as well as compensation to other South African investors amounting to approximately R18.5bn as part of the global settlement.' The sale of its Pepkor stake, the last major asset in its portfolio, represents the final act in this protracted unwinding. Executed via an accelerated book-build, the shares were priced at R25.45 each, swiftly absorbed by investors. In its stock Exchange News Service (Sens) announcement, Ibex framed the sale as a strategic necessity: 'The divestment of the Pepkor stake is a critical step in concluding the legacy issues left by the Steinhoff financial irregularities. The proceeds will be used to further reduce debt and improve balance sheet strength.' While Ibex bows out, the Public Investment Corporation (PIC), Africa's largest asset manager, has deepened its commitment to Pepkor, increasing its stake from 14.91% to 15.46%. This vote of confidence comes as Pepkor reported a robust 23.4% surge in half-year net profit to about R3bn, driven by, among others, aggressive retail expansion across nearly 6 000 stores in Africa and beyond. The sale follows years of fraught litigation between Ibex and Sarb, which had frozen billions in Ibex's Pepkor shares. Courts eventually ruled the Sarb's actions legally unfounded, and a judicial order forced the release of the funds. Sarb stated: 'Beginning in early 2023, various disputes arose between the Ibex Group and the Sarb relating to administrative actions taken by the Sarb against Ibex Group companies arising from various alleged contraventions of the Exchange Control Regulations. 'One of these disputes involved the forfeiture for the benefit of the State of an amount of approximately ZAR6.3 billion, and others concerned blocking and prohibition orders issued by the SARB over funds and assets of the Ibex Group.' The final settlement saw Ibex forfeit R6.3bn plus interest to the state, a costly but necessary resolution to unlock the stake's sale. 'In coming to the settlement agreement and fully and finally resolving the disputes between them, the Sarb and the Ibex Group considered the public interest, the Sarb's mandate of enforcing the Exchange Control Regulations, and the importance of enhancing investor confidence in South Africa. 'R6.3 billion, plus interest, of Ibex Group funds was forfeited to the State in full and final settlement of the Sarb's enforcement action against the Ibex Group in relation to the Alleged Contraventions.' 'The Sarb has granted permissions to the Ibex Group to implement and take all steps that are necessary for the Ibex Group to implement its Dutch court-approved structured winding down process. The SARB has agreed not to take any further administrative or enforcement action against the Ibex Group in respect of the Alleged Contraventions,' read Sarb's statement. For Christo Wiese, the retail tycoon who built Pepkor and was once Steinhoff's largest shareholder, the transaction can be described as a somewhat bittersweet milestone. His fortune was decimated in the scandal's wake, and his resignation from Steinhoff's board marked the end of an era. The Steinhoff debacle exploded in December 2017 when the company abruptly delayed its audited results, sparking panic. The then chief executive, Markus Jooste, resigned when PwC was appointed to investigate accounting irregularities. The probe uncovered a vast fraud — R100bn in fabricated transactions dating back to 2009, designed to inflate profits and conceal losses. The revelations obliterated 97% of Steinhoff's market value and triggered global investigations. Jooste, who headed Steinhoff from 2000 until his resignation in 2017, has been widely identified as the orchestrator of the fraudulent schemes, along with a cohort of senior executives. The company's former chief financial officer, Ben la Grange, and directors Stephanus Johannes Grobler and Danie van der Merwe are charged with racketeering and fraud related to manipulating the financial statements with fictitious transactions totalling over R20bn. The National Prosecuting Authority's indictment described a 'systematic and organised' deception involving sham transactions with supposed third parties to fabricate income. Before the scandal fully unravelled, investigative financial research group Viceroy Research sounded alarms over Steinhoff's opaque financial dealings. Their reports scrutinised questionable accounting practices, off-balance-sheet entities, and suspicious related-party transactions, red flags that foreshadowed the looming storm. Reflecting on the resolution, Sarb stated: 'Both the Sarb and the Ibex Group consider the settlement reasonable, proportionate and justifiable in light of the complex and competing interests. Considering the long history of the Steinhoff/Ibex matter… the Sarb and the Ibex Group consider this final settlement to be in the best interests of South Africa.' Ibex's exit from Pepkor is more than a financial transaction; it is the closing act of a saga that exposed deep failures in auditing, governance, and regulation. While the PIC's renewed investment signals confidence in Pepkor's future, the Steinhoff scandal remains a grim reminder of corporate fraud's destructive power. Get the real story on the go: Follow the Sunday Independent on WhatsApp.
The Citizen
26-06-2025
- Business
- The Citizen
FSCA juggling high-profile cases with limited resources
Regulator finalised 78 cases in its last financial year by implementing World Bank-recommended case selection framework. FSCA investigators spend about 20% of their time assisting foreign regulators, including gathering trading records and financial data. Picture: Moneyweb Despite having only nine investigators in its market abuse team, the Financial Sector Conduct Authority (FSCA) has had to manage some of South Africa's most complex market abuse cases – including the fallout from the Steinhoff accounting scandal. 'It's really been challenging,' says Alex Pascoe, head of market abuse at the FSCA. 'From December 2017, when Steinhoff announced accounting irregularities and its CEO Markus Jooste resigned, everything spiralled.' Pascoe was speaking at the launch of the South African Market Surveillance Code of Conduct in Cape Town on Tuesday, where he gave an account of the regulator's most prominent cases over the past eight years. The newly launched code of conduct is a joint initiative by South Africa's key financial institutions and regulators to align the country's market practices with global best standards. It aims to uphold market integrity and prevent abuse, anti-competitive behaviour, and insider trading. Although it does not replace existing regulations, it reinforces accountability from all market participants. ALSO READ: FSCA's Regulatory Actions Report shows impressive numbers of enforcement Case load Pascoe notes that the FSCA receives roughly 42 to 45 market abuse cases per year, but finalised 78 cases in its last financial year by implementing a World Bank-recommended case selection framework. 'We had to look at our resources – for the last 15 years, my team hasn't grown. We are just nine investigators.' Pascoe reflected on how the fallout from Steinhoff forced the FSCA to re-evaluate how it allocates investigative capacity. 'Everybody knew Jooste was Steinhoff, and Steinhoff was Jooste,' he says. 'From there on it spiralled – Viceroy and Tongaat [another accounting scandal], a mini-Steinhoff followed. It took a lot of resources to manage those cases, especially since they involved cross-border transactions.' (The Viceroy case refers to the FSCA's investigation into the US-based short-selling firm Viceroy Research, which was fined R50 million for publishing false and misleading statements about Capitec. The Tongaat accounting scandal involved the manipulation of financial statements by senior executives at sugar producer Tongaat Hulett to overstate the company's assets and profits.) ALSO READ: FSCA fines Markus Jooste R475 million, refers case to Hawks Jooste a 'brilliant' schemer The Steinhoff investigation is far from over. 'Last year we issued fines to Markus Jooste [of] R495 million. We are looking at his deceased estate and assets around the world,' said Pascoe. 'We won't just leave it at that. Ill-gotten gains – be [he] dead or alive – that's how serious we are. We are seeing this right through.' (Jooste, who faced multiple charges of fraud and racketeering and hefty fines from the JSE and the FSCA for financial misconduct, fatally shot himself in Hermanus in March 2024.) The South African Reserve Bank has already attached R1.4 billion in assets belonging to Jooste, but the global search continues. 'Most of his funds were hidden overseas,' says Pascoe. He adds that a second investigative report into Steinhoff is underway and has been shared with the commercial crimes court. 'Once preliminary findings are in, they [respondents] could make submissions.' Reflecting on lessons learned from Steinhoff, Pascoe says be on the lookout for a dominant CEO. The way Jooste set up the schemes was brilliant. 'Only certain individuals knew what he wanted them to know. Nobody had the full picture.' He adds that Jooste's devices were wiped every two weeks, and hardly anything was documented. Steinhoff's complex global structure, multiple acquisitions, and lack of transparency made it difficult for stakeholders to understand the company's financial position. 'It was difficult to keep up and understand how everything fitted in,' says Pascoe. He also points to poor internal controls and captured auditors in Europe as contributing factors. 'The audits were not up to standard. And then, the culture of not questioning management.' FSCA investigators spend about 20% of their time assisting foreign regulators, including gathering trading records and financial data. 'We're getting requests from all over the world – Sweden, Belgium, even Pakistan,' said Pascoe. 'A lot of suspicious transactions are from overseas, and no longer from the JSE.' ALSO READ: FSCA imposed about R943 million in penalties and debarred 156 people Shadow trading The need for international collaboration was echoed by Tony Sio, head of regulatory strategy and innovation at Nasdaq's Anti-Financial Crime division, who also spoke at Tuesday's event. Sio shared developments in market abuse investigations, including a growing focus on shadow trading – a form of misconduct that remains largely unprosecuted but which are increasingly on the radar of regulators. 'Shadow trading is where insider traders don't trade in the companies themselves, but in economically-linked securities,' Sio explains. Although the practice started as a hypothetical scenario in an academic journal published in 2020, it is now being observed in market data. 'We found increases in volumes of linked securities before acquisitions.' He cites the 2021 case where the executive of a pharmaceutical company learned of an imminent takeover and used the information to buy options in a rival company likely to benefit from the news. 'His options doubled in value in one day. He thought he was smart by not buying in the company itself – but he was found liable.' ALSO READ: FSCA to investigate banks charging different amounts for the same product Robust market surveillance attracts global investment Happy Shihau, head of compliance at Investec Corporate and Institutional Banking, who facilitated discussions at the launch event, stresses that the newly launched market surveillance conduct code complements – rather than replaces – regulatory rules and directives. Shihau says robust market surveillance is essential to attracting global investment. 'Investors worldwide seek to engage with trusted financial markets, and robust market surveillance is essential for upholding that trust.' She adds that the new code will help reinforce the regulatory environment and promote responsible behaviour across the industry. Follow Moneyweb's in-depth finance and business news on WhatsApp here.
IOL News
11-06-2025
- Business
- IOL News
Lingering questions over the mysterious death of former Steinhoff CEO Markus Jooste
There is still no vital information regarding the death of former Steinhoff CEO Markus Jooste. Image: Henk Kruger/Independent Newspapers More than a year after the mysterious death of former Steinhoff CEO Markus Jooste, vital information regarding his death remains unaccounted for, said a police source. Jooste, who was ordered to pay a R475 million fine for accounting fraud by the Financial Sector Conduct Authority (FSCA). However, he allegedly shot himself after police notified him that an arrest warrant had been issued against him. It was reported that he succumbed to a gunshot wound at his Cape Town residence in Hermanus, but questions surrounding the circumstances of his death remain a mystery Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. 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Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ The source said there was still no post-mortem and morgue number in the inquest docket and there was no proof of the weapon he allegedly used. The Western Cape police said in a statement yesterday that the allegations were unfounded, as a post-mortem had been conducted and the report had been filed in the docket for court purposes. 'The investigation into the death of the late Mr Jooste had been concluded and the docket was submitted to the National Prosecuting Authority to be placed on the court role where a formal inquest will be conducted. "The firearm used during the incident was subjected to ballistic tests. Thereafter, returned to the executor as the weapon was registered in the name of the deceased. A report of the ballistic test is filed in the docket for court purposes. The result of both reports will only be disclosed during the formal inquest hearing in court. The date is yet to be determined,' read the statement The FCSA said Jooste had played a role in the publishing of misleading financial statements about Steinhoff International Holdings. Fake transactions worth $6.5bn were made by Steinhoff executives in order to inflate profits, an audit by PwC found. Close to 98% of Steinhoff's share value was wiped out in 2017 when the accounting scandal first broke. Jooste resigned as chief executive but denied any knowledge of accounting fraud. He was also later fined for insider trading in 2020. Last week, a social justice movement, the Progressive Civics Congress (PCC) told IOL that the public deserves transparency and accountability over the scandal, adding that the silence from authorities raises suspicion. 'Jooste was involved in compromising the Public Investment Corporation (PIC) funds, amounting to R200 billion, belonging to the Government Employees Pension Fund (GEPF)." "The Steinhoff scandal was a national issue, yet we have no answers about what happened to those pension funds. The public deserves transparency and accountability—and the silence from authorities raises suspicion.' The organisation further criticised the silence of labor unions, which traditionally advocated for workers' rights and oversight in such matters, saying their inaction may have contributed to the ongoing economic crisis, asserting that the loss of investment confidence and subsequent budget deficits have directly impacted ordinary citizens. Crime expert and violence monitor, Mary de Haas, also pointed out the broader issues of accountability and the integrity of investigations. She told IOL that provincial police commissioners have the authority to expedite inquiries but have seemingly done little to resolve the case or uncover the truth. 'Questions about whether Jooste truly died by suicide or was murdered remain unanswered,' de Haas said. 'The only way to find out is through the post-mortem report, but access to such crucial documents is often denied or delayed. Without it, we are left to speculate.' De Haas also highlighted the broader pattern of disappearances and unexplained deaths linked to political and financial scandals in South Africa, raising fears that some cases might be deliberately obscured to protect powerful interests.
IOL News
10-06-2025
- Business
- IOL News
The enigma of Markus Jooste's death
There is still no vital information regarding the death of former Steinhoff CEO Markus Jooste. Image: Aemand Hough More than a year has passed since the mysterious death of former Steinhoff CEO Markus Jooste, yet crucial details surrounding the incident remain elusive. A police source has revealed that vital information regarding his death is unaccounted for. Jooste, who was ordered to pay a R475 million fine for accounting fraud by the Financial Sector Conduct Authority (FSCA), allegedly shot himself after police notified him that an arrest warrant had been issued against him. It was reported that he succumbed to a gunshot wound at his Cape Town residence in Hermanus. However, questions surrounding the circumstances of his death remain unanswered. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ The source said there is still no post-mortem and morgue number in the inquest docket and there is no proof of the weapon he allegedly used. The Western Cape police on Tuesday said these allegations were unfounded as a post-mortem had been conducted and the post-mortem report had been filed in the docket for court purposes. 'The investigation into the death of the late Mr Jooste had been concluded and the docket was submitted to the NPA to be placed on the court role where a formal inquest will be conducted. "The firearm used during the incident was subjected to ballistic tests and thereafter returned to the executor as the weapon was registered in the name of the deceased. A report of the ballistic test is filed in the docket for court purposes. The result of both reports will only be disclosed during the formal inquest hearing in court. The date is yet to be determined.' The FCSA said Jooste had played a role in the publishing of misleading financial statements about Steinhoff International Holdings. Fake transactions worth $6.5bn were made by Steinhoff executives in order to inflate profits, an audit by PwC found. Close to 98% of Steinhoff's share value was wiped out in 2017 when the accounting scandal first broke. Jooste resigned as chief executive but denied any knowledge of accounting fraud. He was also later fined for insider trading in 2020. Last week, a social justice movement, the Progressive Civics Congress (PCC) told IOL that the public deserves transparency and accountability over the scandal, adding that the silence from authorities raises suspicion. 'Jooste was involved in compromising the Public Investment Corporation (PIC) funds, amounting to R200 billion belonging to the Government Employees Pension Fund (GEPF)." "The Steinhoff scandal was a national issue, yet we have no answers about what happened to those pension funds. The public deserves transparency and accountability—and the silence from authorities raises suspicion.' The organisation further criticised the silence of labor unions, which traditionally advocate for workers' rights and oversight in such matters, saying their inaction may have contributed to the ongoing economic crisis, asserting that the loss of investment confidence and subsequent budget deficits have directly impacted ordinary citizens. Crime expert and violence monitor, Mary de Haas, also pointed out the broader issues of accountability and the integrity of investigations. She told IOL that provincial police commissioners have the authority to expedite inquiries but have seemingly done little to resolve the case or uncover the truth. 'Questions about whether Jooste truly died by suicide or was murdered remain unanswered,' de Haas said. 'The only way to find out is through the post-mortem report, but access to such crucial documents is often denied or delayed. Without it, we are left to speculate.' De Haas also highlighted the broader pattern of disappearances and unexplained deaths linked to political and financial scandals in South Africa, raising fears that some cases might be deliberately obscured to protect powerful interests. Cape Argus
