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- Markus Jooste left his wife three firearms, eight vehicles, various artworks, two policies, a retirement annuity, and almost R74 000 in cash.
- But some of the assets have already been frozen by the SA Reserve Bank, while the FSCA said that it was legally entitled to recover a fine of R475 million from Jooste's estate.
- The will was drawn up in 2020.
- For more financial news, go to the News24 Business front page.
Markus Jooste left his wife three firearms, eight vehicles, various artworks, two policies, a retirement annuity, and almost R74 000 in cash – but it is not clear what she will receive.
Following his death, the Financial Sector Conduct Authority (FSCA) said that it was legally entitled to recover a fine of R475 million from Jooste's estate. The fine, for publishing misleading financial statements for Steinhoff, was imposed just days before he died. Also, the South African Reserve Bank (SARB) has already frozen some of the Jooste's assets named in the will.
READ | Jooste objected to size of his fine compared to Steinhoff's in report published this week
Netwerk24 reported that Ingrid Jooste, 62, was named as the sole heir in Jooste's will, which was filed at the Magistrate's Court in Grabouw earlier this month. Jooste drew up the will four years ago.
He stipulated three firearms that should go to his wife: two rifles - a .22 Anschütz and a .22 Brno – and a 9mm Walther pistol. Network24 previously reported that Jooste shot himself with his own 9mm pistol on 21 March in Hermanus.
Eight vehicles are also stipulated in his will: a Mercedes-Benz SL600 (2012 model), a Lexus LX 570 (2011), a Land Rover (2015), two Land Rover Defenders (2013 and 2016), a Toyota Corolla (2009), a Volkswagen van (2015), and an Isuzu bakkie (2005). Together, the vehicles are worth more than R3 million, Netwerk24 reported.
But in 2022, the South African Reserve Bank already seized five vehicles, including an Isuzu double-cab bakkie, a Mercedes-Benz SL600, and a Land Rover Defender. Jooste's paintings, jewellery and firearms worth almost R800 000 were also frozen by the SARB, along with five properties in Stellenbosch.
A family trust worth more than R1 billion – not named in the will – was also frozen by the central bank in October 2022.
At the time of his death, there was about R74 000 Jooste's Capitec bank account. In addition, an Old Mutual retirement annuity worth almost R1.6 million, as well as two Momentum policies worth R1 million, were left in the will.
Loans to two people - an individual just named Doretta (R697 000) and Karin van Heerden (R191 000) - are also ceded to Ingrid Jooste.
The executor of his will - Jan Pretorius of Cape Town-based Perpetual Fiduciary Services - declared in a document that, to the best of his knowledge, Jooste's estate was solvent. But three creditors - the Johannesburg Stock Exchange, the SA Revenue Service and the FSCA - are named. The amounts are not listed, but just classified as "in dispute".
READ | Welcome to Steinhoffgrad: Markus Jooste digs in to fight R15 million JSE fine
In January last year, the JSE imposed a R15 million fine on Jooste for releasing false and misleading financial statements and creating a sham R376-million invoice. Jooste was fighting the fine at the time of his death.
On Wednesday, the SARB seized R42.1 million in cash and a R18 million property from Jooste's former romantic partner, Berdine Odendaal - just days before a deadline to confiscate her assets was set to expire.
