Steinhoff International Holdings former CEO Markus Jooste has been fined R162-million by a South African regulator for insider trading ahead of the retailer’s near collapse almost three years ago. Jooste sent a text message to four people warning them to sell their stock in the company before it reported accounting irregularities in December 2017, the Financial Sector Conduct Authority said in a statement Friday. Three of them acted on the advice and have been penalized smaller amounts.
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