Dr Nomsa Praisy Masuku (62) a former Standard Bank employee and current Independent Electoral Commission official appeared in the Johannesburg Specialised Commercial Crimes Court sitting in Palm Ridge Magistrates following her arrest this morning by the Hawks’ Serious Commercial Crime Investigation (SCCI) for R1.2 million fraud.
It is reported that the ex-employee was the Head of the CSI Programme for the “Adopt A School Trust” which was established to provide scholarships, bursaries and awards of study, researching or teaching to learners from schools adopted by Standard Bank’s “Adopt a School” programme for those individuals who qualify and meet the selection criteria to further their studies at any recognised institutions higher learning. Dr Masuku was entrusted with managing the Corporate Social Investment Programme (CSI) of Standard Bank during her employ at the bank.
Through an intensive probe, the Hawks investigators established that the incumbent flaunted the processes of the trust by awarding scholarships to friends and family members through manipulation of documents and without the approval of the Committe with some of the monies deposited directly into her personal bank account to the tune of R1.2 million.
The accused was granted R 20 000 fixed bail, and the case was postponed to 04 September 2024 in the same court.
Meanwhile, the IEC has released a media statement today wherein it acknowledges Masuku’s arrest.
“It appears the matter relates to her erstwhile place of employment and does not relate to her tenure in the IEC both as an employee and as a commissioner,” read the statement.