On the record: Markus Jooste’s trustee opens up on SARB’s R4.8bn asset raid

SA businessman Gary Harlow, named in High Court papers which sanctioned yesterday’s seizure of Steinhoff CEO Markus Jooste’s assets, says he will help the authorities in anyway possible. In this interview with Alec Hogg of BizNews, Harlow explains how shortly after the Steinhoff implosion in 2017 he agreed to become a trustee of Silveroak, Jooste’s family trust. He also unpacks the history of his relationship with SA’s biggest corporate fraudster - and shares what happened at Silveroak during the past four years of his trusteeship.

[@hans2020]

The smartest, best informed, loyal,worldly friend who was "not played". Utter bullsh#t.

[@Markymark42]

Its astounding that Gary feels sorry for Markus Jooste as though Jooste is a victim in all this debacle. Jooste systematically intentionally defrauded people of millions. He is a clear perpetrator who has hurt many people financially due to his absolute greed.

[@idaerasmus9617]

Yes Marc...he did not wink to screw anyone coming in his way, under the name of ambigeous, maybe its not a good characteristic........

[@cobusbrits2]

I think Gary has a gentle and trusting nature, something Markus recognized and used.

[@tumelomoraka9017]

Very appalling for that matter. Just Wow!

[@johannlerouxvanniekerk4835]

This Gary is a world class bullshitter! Keep away from any compony he is on the board of.

[@TomGreen-to5rw]

Gary you will never understand what it means to people having no job no pension no home no food and you still see yourself as an uncle for his family. Why do you not sympathize with the people who was stolen from. Your are morally totally on the wrong side

[@crispinswainstonharrison9042]

It’s us poor ordinary people who save with pain on a monthly basis into pension funds who have been screwed.

[@paulharvey9963]

Agreed. Stopped the interview at 21 minutes because I felt nauseated by this apologist, worming around the reality and telling us how sad it is for the Jooste family. Sorry Alec, but you let this guy talk too much garbage before trying to impress the reality upon him...

[@deonfurnell2775]

Raw, real, gone wrong backed by big players in Stellenbosch, and still chin up in church and teach values and business ethics, with boer boel arrogance. Ha ha, ha. Stellenbosch mafia all over.

[@sagransukhessan7860]

He considers himself smart? Business not for women? Making all sorts of excuses for the indefensible? Became a trustee when he was told “if anything happens to me “. Wasn’t even a friend?Doesn’t stack up….and doesn’t appear very smart after all?

[@juanitaleroux2621]

And then Marcus plays the Christian card. Unbelievable.

[@peterwomersley]

as they do Repented and come to Jesus!

[@jskok3280]

Yes, I agree. That's what narcassits and physcopaths frequently do when they are in a corner. Markus was a brilliant businessman and equally a brilliant manipulator. That's why he got away with it so long. Either Gary was too loyal or too naive to see through things. Some answers given during this interview just don't add up. Especially coming from a person of Gary's stature. Markus has played him like he played everyone else and Gary allowed it. Being a reborn Christian myself, I must confess that I am in many instances naive and people coming for help sometimes play me, and I occasionally fall for their tricks , only to discover later that I have been played. Hopefully, I have learned my lesson, but trusting people is a risk in many respects. As they say, there is no sight like a hind site.

[@colingeel8619]

Gary even though you deny it you were “played” and still being “played”.

[@christinefinniss6263]

Gary, you’ve been played.

[@user-po3me4gr6g]

This person was asked to look after family like criminals normally do when they reach the end of the road to their vlbuddies. Now he ask not to be judged saying he never took a fee. Would have had the same trust if it was a government official. These people make you sick with their hypocrisy

[@janrabie1890]

Gary forgets that Regulation 28 forces retirement funds to invest 55% of their funds in South African assets. Considering the small size of the JSE, many funds are therefore "forced" to invest in ALSI 40 assets like Steinhoff. It is not like anyone who is JSE shareholder is voluntarily taking a risk. You are forced to contribute to a retirement fund and the fund is forced to invest in SA companies like Steinhoff.

[@lorrainebotha5293]

I am now over 80 and I never invested in' Steinhoff for the simple reason that the dividends were very low. That saved me!!! I do my own investing - if I loose I can't blame anyone else.

[@rcaderful]

these people are gross. gary exhibits a warm heart but his loyalty is misplaced. his defense of his rich buddy who has intentionally defrauded people shows how the 'wealthy' take care of each other. WMC at its best display here! thank you for this insight.

[@sizla8837]

😢And then 21st March, Markus has gone to his grave, we need a part 2 of this interview

[@Mvubo]

Yes.

[@jackiemullen2356]

You are what you mix with! Very simple! No rocket scientist needed to fathom that out! Poor Gary!

[@elektrolyte]

"Gary, he's a massive fraudster..." "..........."

[@Potjie57]

Typical signs of a sociopath they take reckless risks, know how to play people, psych out their weaknesses and exploits it.

[@mariananel3102]

If you are referring to Markus, I agree. If you are referring to this trustee, I do not agree. I do think he is a good man and do business ethically. However, he should broke the business relationship with Markus, the moment the corruption his client is involved with, was made public.

[@Potjie57]

@@mariananel3102 referred to Markus

[@idaerasmus9617]

Absolutely more narsistic to me though...

[@user-lt7bh7gh1o]

"He repeated: "no good deed goes unpunished" - him saying this twice definitely raises alarm.

[@janfourie7590]

Regret doing a good deed and getting burned, but also admitting that it was in his nature to help a friend in need etc. This regret is what he repeated because this is his sin and failure because of his nature to want to "take care of the family"

[@andrebarberis4265]

From his comments and everything he uttered in this interview. Mr. Harlow is quite an honourable man.

[@wellinever1558]

There was something off here. In 4 years he must have got to know the full story. Did he not take fees so that he could not be seen to be complicit in anyway. Wilful blindness. Why is he protecting him so much and so loyal when they were not really friends. Markus wasn't really liked by the people he forced his way into. I do remember a horsebreeder saying he really had a good eye for horses. They were in partnership together. He lost plenty after this broke. He Markus was an out and out conman with no conscience and they always say they have done nothing wrong. Just like zuma. Never mind the casualties and devastation left behind.

[@janviljoen7001]

Horses cannot be looked at to determine quality, they must be tested either on track or on the field.

[@lorrainebotha5293]

@@janviljoen7001 Especially race horses.

[@edenlanser32]

But Gary, where did the money come from to buy the assets in the trust....come on man.

[@wellinever1558]

Yes my problem is why didn't he ask more questions. Isn't that part of his fiduciary duty. Don't you have to know that to take on a trust.

[@Sp8e]

The guy is guilty. Tried so hard to not get disturbed while he is regurgitating what he prepared.

[@cainestadler9414]

He was never a success. It was fraud. That's a lie

[@charlesmaisel2935]

So interesting watching this now. If this guy I'd an example of governance we are all in trouble

[@guidobrits6593]

No, it's clear Gary wasn't played. I have a lot of respect for him. What I don't like is Alec's way of not listening to him, keeps interrupting and interrogating him in implicating himself.

[@chrispohl5391]

This is really to much "Humanity - what about the humanity of all those he stole and cheated from KNOWINGLY!!

[@anilsalick]

Gary appears loyal, trustworthy, and honest. A little naive? Yes.

[@noxolotshabangu8055]

There’s no way a person with his business savvy can claim naïveté. He’s just doing PR here.

[@tyronpedlar5449]

No sorry for the people that he took all the money from? Sorry to the family? Really!! Some people lost every thing they had in this and you crying from the family and Markus. It's clear why Markus came to you.

[@alexanderwilliamviviers2532]

Gary Harlow comes across as a great/real man! Must say his class speaks volumes. To have a friend like him in life is very special.

[@thorstenwanoth6774]

Gary comes across as a decent human being. While the Steinhoff Shi..sh.w no doubt affected many hundreds (1000's) of people massively, there is much need for damage control.

[@janrabie1890]

Read Rob Rose's book "Steinheist" where he tells the story of how one of Markus' former friends bumped into him and his wife at the airport. When he said:" Hi Markus" his wife Ingrid apparently responded: "That is Mr Jooste to you".

[@TycoonRR]

😂 well he is Mr Jooste…

[@mariananel3102]

@@TycoonRRIf this little story in the book is true...yes, when addressing your client in a public environment, you do adress your client as for example "Mr Jooste ". But his trustee kept on saying that they are friends. Friends does not greet people on their titles...

[@mariananel3102]

Especially in an informal situation like the situation described in the book

[@letlho83]

She needs a reality show 🤣

[@andrewmcfarlane335]

It was not a friend but a Journalist.But terrible manners anyway.

[@hyltonleaf-wright4298]

Sorry. He could have associated with a better class of person. His choice.

[@LeadingLight481]

Markus was cooking the books and Gary here says "he knows how to read a balance sheet" Just because it is a document doesn't make it true.

[@DouImage]

Gary I grew up believing that 'show me your friends and I will know you', so if Jooste is your friend then it tells me who you are. Maybe you should chat to some of the many who lost a lot due to your friend's criminal behaviour and then decide what he and his family deserve?

[@RSVPrr]

That is a very narrow way of judging people. Surely an individual's views are more telling of their character than who they talk to. In any case, it's an interview, not a date, even serial killers get interviewed. Besides we want to hear what he has to say.

[@carelvanwyk6048]

Gary you should get yourself a good lawyer. Good luck .Carel

[@ayeshasalie1187]

Lol. We need to sell the art cos that's all we have to live on. And then it's R25mio! Hard to feel sorry when he has committed fraud to such a huge extent and so many people suffered because of that fraud. Did Jooste think of all those people when he was being crooked?

[@wellinever1558]

Has no conscience that is how he could do it.

[@raydups4068]

Jooste deserves everything that is coming to him...and this guy is trying to defend him...unbelieveable...

[@ofentsemabe7532]

Man's said business is not for women without batting an eyelid... And he sits on public boards. Can you imagine any woman working under him trying to get a promotion hearing that? Wow...

[@noxolotshabangu8055]

Old boys club type of person. He’s excusing, and obfuscating for his friend. Bad news, these people.

[@noxolotshabangu8055]

@@Dvw87 I am not referring to Jooste and what he said.

[@johannlerouxvanniekerk4835]

Can’t trust this Gary as far as you can through him.

[@bakergovender3291]

When are we going to see the Sabs going after Cyril.

[@elizejansevanrensburg4099]

Trusts are 4 Skelms - SARS should scrutinise dealings

[@hanlibadenhorst7837]

From a womam, and a wife and an Trustee of my own little family trust - Gary Harlow, rather STOP talking to the media!!!!!

[@mosesmabele1255]

The whole family benefitted from this revolting act.

[@robertanderson6086]

Good to see Markus has found God ( don't they all??) Quite incredible that this Gary chap is concerned about his reputation after making a comment like 'business is not for women' The fact that he is so flippant about loosing a bar on Steinhoff in his Investec account shows just how detached from the reality of life in 2022 he is

[@dipeshjivan7715]

If he found Lord, then as a good Christian he should confess to the truth and accept his punishment.

[@mariananel3102]

...yes, there should also be reconciliation. The R25mil can be divided to old people who lost everything due to this scandal. It wil not be much, but at least....

[@nisebiggs6572]

Biblically, you need to pay back four times what you stole.

[@nisebiggs6572]

'Business is not for women' says this sucker, who now needs a lawyer, and probably a psychologist. Of course Jooste appreciated that he didn't want pry.

[@seamus9750]

The bigger they are the harder they fall....

[@tjsteenekamp6588]

A rare virtue indeed in corporate SA - a man with integrity....!

[@errolG68]

Gary you are one hell of a guy, and really hope you can keep it going because there are tough times ahead, good luck 🤞 kind regards

[@motsepematlala82]

A friend indeed no matter what may have happened

[@wellinever1558]

Hope they apply the Magnitsky Act. This is just the right thing to freeze everything.

[@nicolettemathiasdotcomquee5414]

This is a good man.

[@christinefinniss6263]

Wow Gary 😳 Business is not for women ? 👎🙈

[@leopillay3690]

That's a very sexiest comment from a man that supposedly should have some common sense ....an indictment to business women...man lacks wisdom..period 🤔

[@phillipsugwas]

"Mistakes," naive", "poisoned fruit," follow the money , " ultimate beneficial ownership"?? how on any thought through basis could anyone this side of the planet Mars think that any, repeat any contact/ business relationship with this man was not the same as driving with a hood over your eyes?

[@markmcculloch2570]

Now Markus is gonna get really ill. Watch this space

[@ytuber3801]

Was he arrested?? I really wish he was

[@yasmindeedat8113]

Oh yes. When the truth gets out. When it falls it hurts. What about those who lost out. Who will take care of them ?? Will Gary be able to help them pick up the pieces Don’t believe everything u read. Look learn and use leverage

[@sudhirmunasur5508]

On a humanitarian level Gary scores well. On a corporate level he exposes himself to the elements and even puts himself at risk. However, so many people have lost their money/or life savings etc., and this is the burning issue. The 34mins of this interview is of no solace to those who lost their money.

[@nisebiggs6572]

There is one born every minute. This is one of those.

[@WHOLT2]

Christo Wiese another good man who I’m sure was a friend of his correctly said the wheel of justice turn slowly but they do turn… there you have it. Not a brilliant businessman but a thief and con artist no defense

[@user-xv9bz4mk5h]

Gary how much did you make,.

[@sammysaunders5689]

'Business is not for women' as an excuse for why his wife was not informed of the severity of the situation...

[@themanfromnam8446]

The rich protecting the rich. I believe Gary is heartfelt and sincere. Where he falls short is in his lack of empathy for the man in the street. They are all so sheltered by their wealth they have lost touch with the value of money. A million rand... not a big loss ? Give R50k to 20 needy families and see what impact it would have in their lives. The level of greed and entitlement is revolting ... unbearable. Gary... you care so much about your reputation and the welfare of this family that has known nothing but opulent wealth and luxury, that you forget about the 1000's of working class families that were impacted through your friend's fraud, theft, lies and self centered selfishness. We should forgive... yes. But why does your friend not sell all his worldly assets give the money to the affected working class families, buy a middle class home and get a regular accounting day job like a normal working class person ? A start over like a normal person? Why does he not do that? Why? Greed.... self centered Greed. He does not really care about anyone that he has hurt. He only cares about himself.

[@elizejansevanrensburg4099]

Naieve haha come on get real

[@themanfromnam8446]

@@elizejansevanrensburg4099 just look at what happened... easy way out.

[@themanfromnam8446]

@@elizejansevanrensburg4099..... Maybe

[@georgetownsend7066]

How misguided can you be? YOUR duty is to handover these illegal assets.

[@erileneschioedt6219]

Oh, puleaze! 🤮 pukeworthy sentiments towards a family that have no care or remorse that their money was procured through fraudulent means. Poor Marcus se moer! Ag no, sies Gary! 🤬🤢

[@ryanhalkett5665]

Hope Lawyers gave him a briefing what to say 🎉🎉

[@pietvdlinde8841]

How come he is only concerned about the Jooste clan and not about people who lost their only pension which in many cases were their only income. Good shoe Gary but it doesn’t wash.

[@janviljoen7001]

Blood is thicker than water.

[@peterwomersley]

Seems like a relationship on a need to know basis ?

[@mosesmabele1255]

Gary, all the best to you and good luck.

[@mosesmanaka8109]

Well it's not professional of you to disclose confidential information regarding your clients with the world which is in violation of your fiduciary duty as an Accountant. I certainly will not be making use of your services.

[@louizadutoit5427]

If he was" the best thing in the business world". It explains a lot about the corruption in SA!!!!!!!

[@YESYES-qz2ex]

It really does not matter who did what. Upon a person's death, the Almighty is waiting. And the guilty ones will have an eternity to repent. But for the grace of God, there go I.

[@janojanuary]

Gary had a soft spot for ol Markus

[@hlamalanimaluleke4553]

I feel sorry for this man. It looks like he may be I'm trouble with the law. It looks like he was played.

[@DeanWilliamMills]

And the paw paw hits the fan...

[@spiritofafricatrust7832]

honourable man .Well done ,My suppurt to u

[@melanieelepen3180]

🤮

[@juanitaleroux2621]

He was quick to create a trust. He knew what was coming. His victims did not and did they have time to create a trust???

[@wjg203]

A follow up on this wouldbbe nice

[@jcoetz2008]

Nice to loose R1mn without worrying about it. Naive or just turning the blind eye???

[@donaldgray2128]

I bet they still driving their Mercs

[@larrymeyer2917]

Nobody should judge the relationship, there are friends you just never reject, in good or bad times. This case, and I know very very little about it sounds like a version of the Madoff Ponzi scheme. Greed by the investors without checking the business, and its not easy to get that information with a dominating CEO, but that’s the time to run if its your retirement at risk.

[@MarnusvdMerwe]

A distraction for us not to ask questions about offshore accounts. Luxembourg, Switzerland, Isle of Man, Cayman Islands there are plenty and Markus was a smart man who travelled alot.

[@lehlohonolomogadime6161]

When whites steal steal they are smart, when blacks do the same they are not educated and corrupt? Heeeeeeee South Africa is a circus!🤣🤣🤣🤣🤣🤣

[@janviljoen7001]

Of course, he hid money. I know a man who worked in Mali, who flew to Island of Man in the morning and be back in the afternoon. No harm done.

[@sydneymail9880]

All the expensive hublot,Ap, Rolex. That are stored there you can easily store 20mill

[@peterdenham9510]

Jooste ... you directed a business that delivered a world class value destruction result and yet no apology to the shareholders that you caused suffering too, unless i missed it.

[@Paperscissor183]

It is problematic that he feels sorry for the family and not investors

[@voertsek8404]

This oke is as filthy as they come. He knows a lot more.

[@peterwomersley]

Gary seems like decent human being but streetwise he is not Psychopaths can be really really convincing. especially for the naive .

[@omphilemathole4450]

Who has not lied in business.

[@rossitherhodie5659]

And Now - same road as Pretorius

[@Aapvanikaap]

Listen to the delicate tinkle of alarm bells.

[@optimistic5778]

How much was SARB entitled to sieze?

[@karynkarynmoraitis7482]

Thanks!

[@markmcculloch2570]

Gary is a decent man !

[@Yossarian1654]

No. He’s helping Markus’s family benefit from and live off of stolen funds. How is that decent?

[@DokoloCity]

Wow R1m is not a significant loss...

[@noxolotshabangu8055]

Then they say they are not privileged.

[@ianvanzyl2551]

Feel sorry for Gary,

[@umfundiseThabo]

To say "we all make mistakes" is realy not the issue (comment after his death). Yes, we all do make mistakes but we all does not commit an offence.

[@Scott.Silburn]

Why's he sweating...? 😜

[@hanlibadenhorst7837]

Management of R100 mill of a Trustee is jot a morning job!!! And now you cry -integrity??? Really???

[@noxolotshabangu8055]

Jooste must be put into jail. And why is this Gary guy sanitising Markus’ image? And I just don’t believe Gary.

[@janojanuary]

Bro got played

[@johanbezuidenhout2919]

My friends wife work for Jooste at Goma Goma as his secatary He treat her like shit and swear at her Her husband was a strong guy and nearly gave jooste a hiding

[@figgettit]

cheap floral business shirts are a tell

[@noxolotshabangu8055]

Gary you are being disingenuous. Really he’s just covering up for his mate.

[@wellinever1558]

This was an ex parte order that is why Gary didn't know. Only one side knows about it.

[@alechogg6783]

Thanks - only got the court papers after the interview…….

[@janviljoen7001]

Correct, done by the Reserve Bank not the Hawks or Police. So, will the RB also attach the goods of the State Capturers ala Zondo? I guess not.

[@willie7054]

Gobsmacked, like the interviewer was. Self incriminating to the tee, a disconnected distant trustee who obviously wasn't in control of the trust or its assets or compliance with the Act & he didn't contemplate resigning ?

[@geraldkoning]

Alec "honest " i would not invest 50c with him, seems to know nothing about anything

[@johnnyeveritt5695]

To Me; Big-G's Body-Language / Nervy and Twitchy Tells Are A Give-Away Of NOTE ... !

[@miavos3610]

Anything to get to his money.