News editor’s note: This story has been updated to reflect the fact that while the University of KwaZulu-Natal (UKZN) says there was never any investigation into claims of financial mismanagement or the theft of funds by Siphelele Nguse, as claimed by his fellow students. It further confirmed there is no record of him being prosecuted or found guilty of allegations of this nature.Nguse has written a letter to outline his version of events in full. You can read it here.Durban – The University of KwaZulu-Natal is aware of fraud allegations levelled against the SRC president on its Pietermaritzburg campus, it said on Tuesday.The university said it was in talks with the Student Representative Council to gain a better understanding of the matter, UKZN spokesperson Lesiba Seshoka said.News24 reported last week that the SRC stripped its president, Siphelele Nguse, of his powers after it found evidence allegedly implicating him in a fraud and corruption scandal.Nguse denied the allegations. According to an e-mail dated June 14, the SRC had decided to suspend him."As the PMB SRC we would like to inform you that yesterday [June 13] we had a meeting in which we resolved that the president of the SRC Siphelele Nguse is suspended with immediate effect due to serious allegations of fraud and corruption," it reads.He allegedly insulted other SRC members at the meeting and made it difficult for the SRC to function."As from now, we do not expect him to do or say anything on behalf of the SRC."Following the News24 report, Aron Ndlovu, a second year BSc microbiology and biochemistry student, had the tyres of his BMW 5 series slashed. He had expressed concerns about Nguse.Pietermaritzburg police said they were investigating a case of malicious damage to property. No arrests had been made. Seshoka said it was regrettable that some SRC members had chosen not to address their grievances through university structures.He urged students with information on the allegations to take it to the university’s risk management services and the proctor.