By: Natasha Archary

Former Steinhoff Director Stephanus Johannes Grobler has been granted bail of R150 000.
Grobler, an alleged accomplice of deceased Steinhoff CEO Markus Jooste, is facing charges of racketeering, three counts of fraud, manipulation of financial statements and failing to report fraudulent activities.
The fraud charges were reported to be in the valur of R21 billion.
Warrants of arrests for both Jooste and Grobler were issued last week, and upon finding out that his arrest was imminent, the disgraced CEO reportedly died by apparent suicide on Thursday, 21 March.
This after the Financial Sector Conduct Authority (FSCA) slapped Jooste with a R475 million penalty on Wednesday, 20 March for manipulating the markets.
On Monday, 25 March 64-year Grobler was granted R150 000 bail at the Pretoria specialised commercial crimes court.
His bail comes with conditions and Grobler is expected to plead not guilty to the charges against him.
It is alleged that Grobler and Jooste commited several financial crimes between 2014 to 2016, scamming several investors between and causing the multinational holding company, Steinhoff International to collapse.
In 2017, Steinhoff International which is a dual-listed company in Germany and South Africa, saw its share price plunge by more than 95%, wiping out shareholder wealth worth tens of billions of rands.
Grobler is expected back in court on 26 June.
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