UJ execs to pay back stolen millions

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Last week, two former University of Johannesburg (UJ) executives were court-ordered to pay back more than R14 million that the pair had stolen through fraud. The university laid criminal charges against sacked deputy vice-chancellor of finance Jaco van Schoor last year. His cohort, Professor Roy Marcus, is the former chairperson of the university’s council.

In an affidavit submitted to presiding Judge Coppin of the South Gauteng High Court, UJ revealed how Marcus and Van Schoor stole money set aside for the installation of solar geysers at the university’s premises and residences.

“No services of any value to UJ had been rendered to UJ and therefore no value had been received by (the university), in return for the amounts paid,” said the institution’s affidavit after it was revealed that three companies were paid R10 million, R2.2 million and R1.2 million respectively. The money was channelled to Innovative Investment Corporation (IIC) of which Marcus and Van Schoor were directors. The multimillion-rand fraud came to light last year after Marcus and Van Schoor were caught abusing their executive positions at UJ to channel money for the institution’s projects to companies linked to them with fraudulent invoices.

Marcus resigned last September “in the interests of the university and without admitting to any wrongdoing” and Van Schoor was fired after a guilty verdict was reached during disciplinary proceedings. – You can read more on the Mail & Guardian website.