Fidelis Moema, previously employed at KPMG as a bursary specialist, is now facing charges of fraud and money laundering after it was discovered he had allegedly siphoned R16.5 million intended for student bursaries.
UPDATE: On Friday, Fidelis Moema and his two co-accused were granted R50 000 bail each. The case has been postponed to 24 May 2024. Read the original story below.
Fidelis Moema exes will testify against him
During court proceedings on Thursday, where Moema appeared alongside co-accused Trevor Machimane and Lebohang Sigubudu, State prosecutor Advocate Valencia Dube announced that the former bursary specialist’s ex-girlfriends have agreed to become State witnesses in the ongoing fraud trial.
These former partners were allegedly coerced by Moema to open companies under their names to facilitate fraudulent transactions.
These transactions, totalling 431 separate instances and amounting to R16.5 million, were initially sent to companies linked to Moema’s friends and romantic partners before a significant portion was funnelled into his personal bank account.
On Friday, the court is expected to rule on Moema/s bail application.
Moema fraud case: Here’s what we know so far
Fidelis Moema’s role at KPMG involved overseeing bursary funds designated for covering university fees for eligible students.
Instead, from 2021 to 2022, Moema is accused of redirecting these funds into accounts of acquaintances and businesses that were not official service providers or bursary recipients.
This was confirmed by Hawks spokesperson Warrant Officer Thatohatsi Mavimbela. The money was later transferred back to Moema, resulting in a substantial financial loss for KPMG.
Furthermore, during the court session, it was revealed that Moema had provided misleading information to his new employer, Nedbank, about his departure from KPMG.
He claimed to have resigned in March 2023, whereas KPMG records show he was actually dismissed on 22 November 2022, due to the irregularities.
The court is set to decide on Moema’s bail on Friday, following the recent revelations and the additional testimonies from his ex-girlfriends.
