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Tekkie Town's Bernard Mostert: How Jooste duped us out of R3.3bn

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As the entrails of the corrupt Steinhoff empire become exposed, bruised investors are realising how little defence they have against a sociopathic CEO supported by crooked auditors. But spare a thought for Braam van Huyssteen, his CEO Bernard Mostert, and Tekkie Town which invested two and a half decades building the business from a single store in Mossel Bay. As Mostert explained on this week's episode of Rational Radio, their initial asking price of R4.5bn was chiselled down to R3.3bn because of greater potential upside - but when the dust cleared, all they have left are relatively worthless shares and a long legal fight to get their company back. We were duped, Mostert admits. Yet his colleague Van Huyssteen has forgiven the man who did it the duping. A fascinating discourse. - Alec Hogg
 
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28 Aug 2019 7AM English South Africa Investing · Business News

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