A student who spent almost R1 million of an erroneous multimillion rand financial aid deposit, is being probed for fraud.
Michael Ansell, chief executive of IntelliMali – which manages the allocation of funds at the Walter Sisulu University's (WSU) student’s IntelliCard – said they were taking legal action against the student who had “helped herself” to the money.
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Ansell said in a statement on Tuesday that the East London-based student received a National Student Financial Aid Scheme (NSFAS) monthly food allowance of R14.1 million instead of R1 400 in June.
“The student did not report the oversight but chose rather to access the funds. When the error was discovered in early August 2017, she had misappropriated R818 000,” said Ansell.
This differed from the almost R500 000 WSU spokeswoman Yonela Tukwayo said had been spent.
She said university management would meet with Ansell on Wednesday to discuss the matter and probe how such an error could have occurred and gone undetected over months.