Former Steinhoff CEO Markus Jooste dies by suicide? JOHANNESBURG, March 21 (Reuters) – A 63-year-old man whom police in South Africa on Thursday said apparently died by suicide was identified by local media as former Steinhoff chief executive Markus Jooste. Jooste, who was instrumental in transforming Steinhoff from a small Johannesburg furniture outfit into a multinational retailer, had been handed a hefty fine for accounting fraud on Wednesday. Police said an inquest case docket had been registered following the death of a 63-year-old man. They did not name the deceased. “It is alleged that the victim sustained a gunshot wound at around 1520 (local time) at Kwaaiwater and succumbed to death on his way to hospital,” Western Cape police spokesperson Colonel Andre Traut said in a statement, referring to a suburb of the coastal town of Hermanus near Cape Town. Traut said police were investigating the circumstances, adding that no foul play was suspected. Citing sources, South African broadcaster Newzroom Afrika said Jooste shot himself during an arrest. The Financial Times said Jooste had died of a gunshot wound, according to people with knowledge of the matter. South Africa’s Financial Sector Conduct Authority fined Jooste 475 million rand ($25.2 million) on Wednesday for publishing false and misleading Steinhoff annual financial statements and annual reports for the 2014 to 2016 years and the 2017 half-year. Steinhoff revealed holes in its accounts in December 2017, the first sign of an accounting fraud that led to the near-collapse of the retail group, which is the majority owner of South African and European discount retailers Pepkor (PPHJ.J), and Pepco (PCOP.WA), . Steinhoff has suffered hefty losses and a stream of lawsuits since then. Jooste told a South African parliamentary inquiry in 2018 that he was not aware of any accounting irregularities when he left the retailer in December 2017. He had also been under fraud investigation by South African police. ($1 = 18.8497 rand)Markus Jooste, former chief executive officer of scandal-ridden retailer Steinhoff International Holdings NV, has died at 63. His death comes just one day after the Financial Sector Conduct Authority (FSCA) levied a R475 million fine against him for making and publishing false, misleading or deceptive statements about the company. That was in addition to a R20 million penalty previously levied by the regulator for insider trading. Jooste’s death occurred in his hometown of Hermanus, South Africa, according to a person familiar with the situation who wasn’t authorised to comment and therefore asked not to be named. Police in Hermanus, a seaside community about 120km south of Cape Town, confirmed the death of a 63-year-old man on Thursday afternoon (21 March) without identifying him by name. The police statement said the cause of death was a fatal gunshot wound to the head. No foul play was suspected, the police said. The investigation is continuing. Steinhoff, the former owner of Conforama in France and Mattress Firm in the US, had been battling to survive ever since auditors refused to sign off on its financials in late 2017. That prompted Jooste to resign and led to a dramatic share-price collapse as well as the start of police and regulatory investigations in both Europe and South Africa. Artificial transactions were allegedly used to manipulate balance sheets by more than €1.5 billion (close to R31 billion at Thursday’s exchange rate). Additionally, prosecutors have said the value of real estate assets was inflated. A forensic probe by auditor PwC uncovered €6.5 billion (R133 billion) of irregular transactions with eight firms over eight years. Jooste was charged in Germany on allegations that he was the architect of the accounting scandal, which he denied. The ex-CEO kept a low profile, barring one public appearance before South African lawmakers in 2018 to explain his role in the collapse. With his wife, Ingrid, Jooste had a son and two daughters.