By Tshepo Phagane 

Earlier today, Burger was taken into custody and subsequently entered a guilty plea to three counts of violating the Financial Markets Act.

The court's ruling also includes a forfeiture order, mandating that proceeds from the illicit sale of Steinhoff shares be surrendered to the State.

This decision comes as part of the broader scrutiny into the scandal that erupted in November 2017, when then-Chief Executive Officer Markus Jooste allegedly leaked information about the impending decline in share value, prompting Burger and potentially others to sell off their shares prematurely.

The case has shed light on the vulnerabilities and ethical breaches within financial markets, highlighting the need for stringent oversight and the enforcement of legal consequences for insider trading activities.

--SABC--