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Alleged ex-KPMG fraudster Fidelis Moema and co-accused granted R50K bail
Fidelis Moema stands accused of embezzling bursary funds intended for university students from KPMG.
Former KPMG bursary specialist, Fidelis Moema. Picture: Facebook
Fidelis Moema, the former KPMG employee accused of stealing R16.5 million in bursary funds, and his alleged accomplices will be released from custody after being granted bail on Friday.
Moema, Trevor Machimana and Lebohang Sigubudu appeared in the Palm Ridge Commercial Crimes Court to find out the outcome of their bail applications.
The trio, who face fraud, money laundering and theft charges, were granted bail of R50 000 each.
ALSO READ: KPMG staffer’s lavish lifestyle revealed after R16.5m fraud arrest
The National Prosecuting Authority (NPA) welcomed the court’s ruling and the decision to increase the bail amounts.
Moema, Machimana and Sigubudu had informed the court through their legal representatives on Thursday that they could only afford R25 000, R4 000 and R3 000 bail respectively.
The case has been postponed to 24 May for further investigations.
Fidelis Moema KPMG fraud
Moema stands accused of embezzling bursary funds intended for university students from KPMG.
The former KPMG bursary specialist allegedly made over 400 fraudulent transactions, amounting to R16.5 million, to various companies linked to his associates between 2019 and 2022.
He allegedly compelled his former partners to open and register companies in their names to launder money.
All of these women have since provided statements to law enforcement, and are now witnesses for the state.
WATCH: R16.5m bursary fraud: Fidelis Moema suspended by Nedbank after ‘lying’ about KPMG dismissal
Moema is currently employed by Nedbank although he did not inform the financial services company that he was fired by KPMG in November 2022.
His contract will end on 30 April as he was employed on a fixed-term basis.
The former KPMG employee, who holds South African citizenship, was born in the United Kingdom (UK).
Images and videos showcasing Moema’s opulent lifestyle, including lavish trips to Greece, dominated social media trends after he handed over himself to the police on 2 April.
According to the state, Machimana and Sigubudu illegally received money from KPMG without rendering any services to the audit firm.
Machimana, who is self-employed, allegedly transferred more than R800 00 received from KPMG to his business account.
Sigubudu, a Tshwane Metropolitan Police Department (TMPD) officer, allegedly received a total of R657 000 through his company.
NOW READ: Approved bursaries not affected, says KPMG on R16.5m fraud by its employee
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