In a significant development within the ongoing Steinhoff accounting scandal, a former manager has admitted to participating in tax evasion amounting to millions of euros. The confession was made yesterday before the Oldenburg Regional Court, shedding light on the intricate web of financial misconduct that has plagued the multinational company.
The ex-manager confessed to knowingly manipulating balance sheet values without considering the tax implications. While providing his confession, he admitted to lacking recollection of specific details surrounding the illicit activities.
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The accused, a 64-year-old individual, stands accused of evading taxes totalling over 26 million euros between the periods of October 2008 and August 2012. This isn't the first legal entanglement for the former manager. In previous proceedings, he had already been convicted and sentenced to a suspended sentence, a fine, and a prison term of three years and three months.
Meanwhile, the search continues for Markus Jooste, the former CEO of Steinhoff International Holdings. Jooste failed to appear for trial and has since been declared a fugitive.