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2 senior UJ managers accused of defrauding university of R25m

Professor Ray Marcus and deputy vice-chancellor for finance Jaco van Schoor allegedly stole R25 million which they channeled into their private business.

Jaco van Schoor. Picture: Supplied.

JOHANNESBURG - Two senior managers at the University of Johannesburg (UJ) have been accused of allegedly defrauding the university of millions of rand.

The Sunday Independent is reporting that the chairperson of council, professor Roy Marcus and deputy vice-chancellor for finance Jaco van Schoor made off with at least R25 million which they channeled into their private business.

The paper says the pair were ousted by a whistle blower who alerted the university of this alleged fraud believed to have happened over a period of three years.

UJ has since suspended the two with pay pending the outcome of an investigation by auditing firm Sizwe Ntsabula Gobodo.

The university's Herman Ersterhuizen said, “In the interest of governance and for the investigation professor Ray Marcus and deputy vice-chancellor for finance Jaco van Schoor have stepped down.”

(Edited by Refilwe Pitjeng)