The IEC commissioner and former Standard Bank employee, Nomsa Masuku, was arrested on Friday morning by the Hawks for R1.2m in fraud meant for student scholarships and bursaries.
She appeared in the Johannesburg Specialised Commercial Crimes Court which sits in the Palm Ridge Magistrates Court.
Masuku was the head of Adopt A School Trust, a corporate social investment programme at the bank, meant to provide scholarships, bursaries research and teaching to learners from schools adopted by Standard Bank.
The initiative was established for learners who qualified and met the selection criteria to further their studies at any recognised institution of higher learning.
"Through an intensive probe, the Haws investigators established that Masuku flouted the processes of the trust by awarding scholarships to friends and family members through the manipulation of documents and without the approval of the committee," said Hawks spoksperson Col Katlego Mogale.
Mogale said some of the monies were deposited directly into her personal back account to the tune of R1.2m.
Masuku was granted R20 000 bail. The case has been postponed to September 4 2024.
IEC Commissioner Nomsa Masuku arrested for fraud
Image: Freddy Mavunda
The IEC commissioner and former Standard Bank employee, Nomsa Masuku, was arrested on Friday morning by the Hawks for R1.2m in fraud meant for student scholarships and bursaries.
She appeared in the Johannesburg Specialised Commercial Crimes Court which sits in the Palm Ridge Magistrates Court.
Masuku was the head of Adopt A School Trust, a corporate social investment programme at the bank, meant to provide scholarships, bursaries research and teaching to learners from schools adopted by Standard Bank.
The initiative was established for learners who qualified and met the selection criteria to further their studies at any recognised institution of higher learning.
"Through an intensive probe, the Haws investigators established that Masuku flouted the processes of the trust by awarding scholarships to friends and family members through the manipulation of documents and without the approval of the committee," said Hawks spoksperson Col Katlego Mogale.
Mogale said some of the monies were deposited directly into her personal back account to the tune of R1.2m.
Masuku was granted R20 000 bail. The case has been postponed to September 4 2024.
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