Prinsloo was
not asked to plead when she appeared in court and was remanded out of custody
to November 25 pending finalisation of investigations.
Prinsloo is the
director responsible for operations and is a minority shareholder with 49
percent.
She was given
the responsibility of receiving cash payments for school fees at the school and
was supposed to deposit the cash into the school’s CABS Bank Corporate Nostro
account.
The school is
being represented in court by David Joseph Tigere, the director responsible for
finance.
He is also the
major shareholder of the company with 51 percent shareholding. The court heard
that between January and October this year, Prinsloo received cash payments
from various parents for school fees and new registration fees.
She issued
relevant receipts accordingly. Some parents made their payments through the
school’s bank account as indicated in the bank statement. She allegedly used
part of the school funds for her own use without the knowledge of the major
shareholder.
This was also
in breach of the terms and conditions in which the funds were supposed to be
handled.
At the
beginning of the month, Tigere approached Prinsloo to account for all the funds
she had received but she did not cooperate.
Tigere was
denied access to all financial records. A police report was made and
investigations revealed that Prinsloo received a total of US$252, 589.27 as
cash payments and her expenditure amounted to US$142,258.37.
The accused was
supposed to have US$110,330 in cash but had only US$26,316 which she kept in
trust on behalf of the school at Titan Law and against the terms and conditions
the funds should be handled.
She failed to
account for US$84,014 cash which she received. H Metro
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