Forensic investigators roped in to probe R14m deposit to WSU student
NSFAS says preliminary investigations by the service provider have now established that these funds belonged to the university.
CAPE TOWN - Forensic investigators have been appointed to probe how R14 million ended up in the bank account of a Walter Sisulu University (WSU) student.
Sibongile Mani was supposed to receive a R1,400 stipend from the National Student Financial Aid Scheme (NSFAS), but she instead got a whopping multi-million rand lump sum from a company called IntelliMali, which deals with transactions between the institution and students.
Mani reportedly spent more than R800,000 before the error was picked up.
In a statement, NSFAS says public funds were not lost in the transaction.
It says preliminary investigations by the service provider have now established that these funds belonged to the university, and not NSFAS, as it was initially believed.
IntelliMali has reimbursed the WSU the full amount that was spent by Mani and has appointed an audit firm to conduct a forensic investigation into the matter.
The financial aid group and the institution say no specific employee has been found to be responsible for the overpayment into the student's IntelliCard account.
It also says no steps have been taken by the university against the student as it awaits the outcomes of the investigation before considering any further steps.
(Edited by Winnie Theletsane)