ECONOMY & WORK
MONEY 101
NEWS
PERSONAL FINANCE
NET WORTH
About Us Contact Us Privacy Policy Terms of Use DMCA Opt-out of personalized ads
© Copyright 2023 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
MARKETREALIST.COM / PERSONAL FINANCE

Student mistakenly gets $1 million instead of $100 in financial aid. Her next 73 days were unreal

The student also began flashing the cash to her closest friends and began drinking expensive whisky with them.
UPDATED 8 HOURS AGO
Cover Image Source: Getty Images \ Sorapop (Representative image)
Cover Image Source: Getty Images \ Sorapop (Representative image)

A university student in South Africa went on a 73-day spending spree after accidentally getting $1 million in financial aid. The oversight that occurred at Walter Sisulu University in Eastern Cape province led to the student spending over $60,000. The student Sibongile Mani, who was supposed to get $100 in her financial aid debit card for books and food, was finally exposed by another student who grew suspicious of her expenditure. 



 

The massive overallocation of funds happened back in 2017 when four extra zeroes were added to the student's financial aid payment under the National Student Financial Aid Scheme (NSFAS). 

Mani, who was 27 at the time, usually got 1,400 rands or $100 back then. The stipend given for food and books was immediately available to the student, according to Intellimali, the company that issued the student cards, Herald Live reported.

Mani first raised eyebrows when she turned up to school with nearly $200-a-time Peruvian weaves, designer outfits, and a brand-new iPhone 7.

Representative image | Pexels | Photo by Alexandra Maria
Representative image | Pexels | Photo by Alexandra Maria

Mani also began flashing the cash to her closest friends and began drinking expensive whisky with them. She even flew her friends around the country buying them the best seats for wild parties.

She threw surprise birthday parties, showered her friends with gifts, and helped them emulate their idols and pop stars like Beyonce while on campus. This allegedly went on for 73 days during which Mani spent over $60,000, as per CNN. 

Representative image | Getty Images | Photo by Yutacar
Representative image | Getty Images | Photo by Yutacar

Mani's opponents at the campus grew suspicious of her newly acquired spending habits. What finally gave her away was a bank receipt that she left behind at a supermarket. She was then reported to the authorities by a fellow student of the college. 

“When the receipt was leaked showing a balance of R13.6 million (~$1,050,000 at the time) in her account, I called NSFAS and they checked their records and confirmed that the initial amount was R14 million (~$1,080,000)," Samkelo Mqhayi, branch secretary of the South African Students Congress, told Herald Live.

Mani was then reported to the police and charged with theft and fraud. The mother of two was eventually sentenced to jail for five years in 2022. 



 

However, her lawyer Asanda Pakade appealed the decision insisting that her being found guilty of a crime didn't make sense at all.  In a state given to News24 after the sentencing on Mani, the lawyer said that when she received the unexpected amount, she was barely surviving and couldn't even afford a loaf of bread.

He also argued that Mani had a better future ahead of her as she had a degree in accounting, a diploma in internal auditing, a post-graduate certificate in education, and was pursuing an honors degree in education when the error happened.  



 

In a hearing in the East London High Court in Makhanda in 2023, Mani's sentence was suspended. She was instead ordered to complete 576 hours (nearly three and a half weeks) of unpaid community service and undergo regular counseling and rehabilitative programs.

This article originally appeared 1 month ago.

MORE ON MARKET REALIST
The student also began flashing the cash to her closest friends and began drinking expensive whisky with them.
8 hours ago
The TikTok content creator and her friend guessed that the price would be higher than average but still got it wrong.
20 hours ago
Costco has introduced the measures along with the first increase in its membership fees since 2017.
2 days ago
The Maserati driving kid has shared several videos on TikTok showing off her money collections.
Oct 2, 2024
There are several reasons why it only costs $10,000 to open a Chick-fil-A location. Keep reading to learn about all the details.
Sep 29, 2024
Here are three key learnings from the radio host, bestselling author, and personal finance expert's money secrets.
Sep 26, 2024
Buying a car is a major financial investment and that's why you should know how to negotiate a car loan before you go to the dealership.
Sep 23, 2024
If you've invested in rental property, you should consider multiple factors when deciding whether it's the best time to sell.
Sep 22, 2024
The real estate market may have cooled a little, but if you received a text message asking to buy your house, you may want to investigate.
Sep 21, 2024
The man dressed in a cartoon costume during the cheque presentation ceremony to protect his identity.
Sep 20, 2024
You can block fraudsters from using your child’s SSN and other personal information by freezing their credit file.
Sep 20, 2024
An obvious perk of having a home with a driveway is the extra space. If you want to make some extra cash, here's how to rent out your driveway.
Sep 19, 2024
TikTok creator Lindsay wasn't happy with Cuban asking the working class to cut down on happiness.
Sep 17, 2024
The bill with a printing error could multiply in value if it grabs collectors' attention.
Sep 17, 2024
While some celebrities are infamous for being stingy, Derulo is known to be a generous tipper.
Sep 16, 2024
"They say money can't buy happiness, but Maybank knows how to buy frustration," she said.
Sep 14, 2024
While there could be millions of such pairs out there, only nine sets have been found so far.
Sep 14, 2024
Social media users suggest that this habit is a clear giveaway of someone's age.
Sep 13, 2024