Moema remains in custody after case postponement

Former bursary specialist at KPMG SA made a brief appearance in the Specialist Commercial Crimes Court sitting in the Palm Ridge magistrate's court on Tuesday.

Fidelis Moema's fraud and money laundering case was postponed to April 18 for a formal bail application.

Prosecutor Adv Valencia Dube said she had other engagements at the Johannesburg high court.

Moema is also facing a charge of theft.

Moema's lawyer Adv Thomas Hlungwane told Sowetan he had no doubt that his client will be released on bail next week.

Hawks spokesperson Warrant Officer Thatohatsi Mavimbela last week said between 2021 to 2022, Moema allegedly misdirected funds meant for bursary recipients.

"Instead of paying university fees on behalf of students, the accused would pay the money into the bank accounts belonging to friends and individuals who own companies," she said.

"The money would then be paid back into his personal bank account. KMPG has suffered a loss of R16.5m due to his fraudulent actions."

Moema was dismissed by KPMG in November 2022 after a stringent disciplinary process related to noncompliance with the firm’s policies.

In a statement on Friday, KPMG said it was only after his dismissal that the firm identified potential fraud committed by Moema and immediately initiated an internal forensic investigation.

“This investigation uncovered fraudulent behaviour related to bursary funds and as a result we reported the matter to the relevant law enforcement authorities in February 2023. We continue to work closely with the authorities to bring this matter to a close,” said Ignatius Sehoole, KPMG SA CEO.

Sehoole said the forensic investigation identified alleged collusion by Moema with external parties but did not identify any company employee involved in the scheme.

chabalalaj@sowetan.co.za