that the reason for such a massive deduction in Markus Jooste’s fine was due to the Financial Sector Tribunal ordering that a different date be used to calculate the amount of the financial loss that was avoided as a result of the insider tip.
The Tribunal also ruled that the text message to Swiegelaar should not be considered insider trading as it accepted Jooste’s submission that this was a “pocket dial” and the message was never meant to go to Swiegelaar. The Financial Markets Act prohibits an insider from tipping another person to deal in securities which the inside information relates to. Jooste has to cough up the R20-million by 6 January 2023.
This seems like a slap on the wrist, by all accounts he should be in prison surely!
Thugs unite to cheat poor shareholders from what is owed to them disgraceful thief!
Why?
Disgusting. He should be locked up.
Reallly, who is on the payroll?
Proof indeed that corporate crime does pay.
Konke kwenzeka ngokubuswa u Cyril
Why not in jail yet?
Disgraceful that these people do not face consequences that hurt.
The guy will be an asset for illicit financial flow crimes in Southy. Skelm to Skelm
He's got off lightly here.
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