August 24, 2017 / 2:35 PM / a month ago

Steinhoff dismisses fraud allegations as wrong and misleading

JOHANNESBURG, Aug 24 (Reuters) - South African furniture retailer Steinhoff on Thursday dismissed a German magazine report that its chief executive was under fraud investigations, saying “substantial facts and allegation are wrong and misleading”.

Citing no sources, Manager Magazin reported that Markus Jooste and some other managers at Europe’s No.2 furniture retailer were being investigated by German prosecutors for suspected accounting fraud.

Reporting by Tiisetso Motsoeneng; Editing by James Macharia

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