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Markus Jooste, the former CEO of Steinhoff Fame, has just run out of luck with the Germans.

A German court issued an arrest warrant for the disgraced South African after he failed to show up for trial in the country. The Regional Court of Oldenburg issued the warrant about two weeks ago, a spokesman for the tribunal said on Wednesday.

Bernd Gross, who is representing Jooste, refused to make any comment on the arrest warrant when asked, but the guy obviously doesn’t have time as the battle to keep Jooste out of prison kicks up a gear.

Gross told the court in April that his client was unable to travel because he didn’t have access to his passport, under an arrangement with South African authorities. Jooste is facing much bigger probes and allegations there than in Germany, the lawyer said.

Both Europe and South Africa have unleashed criminal investigations into his shenanigans at Steinhoff, which resulted in a share-price collapse.

Steinhoff’s share price dipped to R4.50 (down from R51.40 on 1 December) when the company’s accumulated debt of R161 billion ($12.8 billion) was revealed. By that time German authorities were already sniffing around the horse-lover.

Six years later it seems they finally made a move.

[source:news24]