IEC Commissioner charged with fraud while at Standard Bank

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The Hawks’ Serious Commercial Crime Investigation unit has arrested an IEC Commissioner for fraud.

 

Dr. Nomsa Masuku is accused of siphoning off R1,2 million into her own bank account, when she was the Head of Standard Bank’s CSI Programme, before she rejoined the IEC.

 

She allegedly awarding scholarships to friends and family members through the Bank’s “Adopt A School Trust”.

 

The Trust was established to provide scholarships, bursaries and awards of study, researching or teaching to learners who qualify and meet the selection criteria to further their studies at any recognised institutions higher learning.

 

In a statement the Hawks says through an intensive probe, its investigators established that Masuku ”flaunted the processes of the trust by awarding scholarships to friends and family members through manipulation of documents and without the approval of the Committee with some of the monies deposited directly into her personal bank account to the tune of R1.2 million.”

 

Masuku was granted R20 000 fixed bail after appearing in the Johannesburg Specialised Commercial Crimes Court sitting in Palm Ridge Magistrates Court on Friday morning. The case was postponed to 4 September 2024.

 

According to the IEC’s website, Masuku started her career in election management in 1998. She left the IEC in 2006 to pursue a career in the private sector.

 

During a ”seven-year hiatus” she was Standard Bank’s head Corporate Social Investment. Masuku was appointed as IEC Commissioner in 2018.

 

Liesl Smit
Liesl Smit
Liesl is the Smile 90.4FM News Manager. She has been at Smile since 2016, with nearly 20 years experience in the radio industry, including reading news, field reporting and producing. In 2008 she won the Vodacom Journalist of the Year Award, Western Cape region. liesl@smile904.fm

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