Wednesday, September 12, 2018

How quickly can you spend R14 million?

A report in the Dispatch reveals how accounting student Sibongile Mani allegedly spent R20,000 within two hours of having R14 million accidentally transferred into her account in June 2017.
The paper saw a four-page charge sheet during a hearing on Monday. Mani is charged with theft of R818,469 following a “systems error” in which she received R14.14 million accidentally.
The trial has been postponed to October 25 after the defence team claimed it is still studying the contents of the docket and charge sheet submitted by the state, Dispatch reported.
According to the charge sheet, the money was transferred into Mani’s account at 13h09 on June 1, and she allegedly began spending it at 14h55, the same day.
By the time the error was picked up, R818,469 has reportedly been spent at 48 merchants in the Eastern Cape and Gauteng. As much as R174,631 was spent over “few days” at Checkers Hyper in Centurion, while R178,923 was spent at Discount World in Fleet Street in East London.
Mani reportedly spent R286,108 on “prohibited items” – those items NSFAS does not allow students to use its funds for, including alcohol, cigarettes, electrical appliances, bedding, airtime, gift cards, toys and microwave ovens.
The charge sheet also alleged that Mani referred to herself on a social media account as “Sibongile Money”.
“The accused knew at all times that she was only entitled to a food allowance of R1,400 and the credit she had received on June 1 2018 of R14.1 million was incorrect,” the charge sheet said.

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