It looks like it is D-Day for embattled businessman Markus Jooste.
The former Steinhoff chief executive officer was hit with an arrest warrant from a German court on Wednesday.
According to Bloomberg, the Regional Court of Oldenburg issued the warrant two weeks ago.
A spokesperson for the court said prosecutors had called for Jooste’s arrest in April after he failed to appear in court for his trial.
Jooste’s lawyer, Bernd Gross, has yet to comment on the arrest warrant.
It should be noted that back in April, Gross told the court that Jooste could not travel as he did not have his passport.
Jooste apparently had an agreement with South African authorities that he would remain in the country as he is facing multiple probes into financial misconduct.
Gross told the court that Jooste was facing much more substantial issues in South Africa than in Germany, according to Bloomberg.
This is a developing story.
BUSINESS REPORT