By Everson Luhanga
Dr Nomsa Masuku, a former Standard Bank employee and current IEC official, appeared in the Johannesburg specialised commercial crimes court in Palm Ridge on Friday morning following her arrest for R1.2-million fraud.
Colonel Katlego Mogale, spokesperson for the Hawks’ serious commercial crime investigation unit, said Dr Masuku was formerly the head of the Standard Bank ‘Adopt A School Trust’ corporate social investment programme.
The trust was established to provide scholarships, bursaries, and awards for study, research, or teaching for learners from schools adopted by the programme.
The beneficiaries are individuals who qualify and meet the selection criteria to further their studies at any recognised institution of higher learning.
“Dr Masuku was entrusted with managing the programme while she worked at the bank,” said Mogale.
Hawks investigators alleged that she manipulated the trust’s processes, awarding scholarships to friends and family members without the committee’s approval. A sum of R1.2-million was deposited directly into her personal bank account.
Dr Masuku was granted R20,000 bail and the case was postponed until 4 September.
Pictured above: Dr Nomsa Praisy Masuku was released on R20,000 bail.
Source: X
