How Nomsa Masuku allegedly defrauded Standard Bank trust

Electoral Commission of South Africa (IEC) commissioner Dr Nomsa Praisy Masuku was allegedly the only active participant in the awarding of a bursary and payments to one of her relatives. Masuku, 62, was arrested on Friday and appeared in the Johannesburg specialised commercial crimes court on charges of theft, fraud and money laundering involving R1.2m. She was granted bail of R20,000 and will return to court on September 4. Masuku, who was the head of Standard Bank’s Corporate social investment programme (CSI), was one of the founders of the bank’s Adopt A School Scholarship Trust…