Former KPMG Employee Accused of R16.5 Million Bursary Fraud Remains in Custody
Image source: Former President Zuma (Photo: ZoomSouthAfrica)
Published by: Omphile Pule
Fidelis Moema, a former bursary specialist at KPMG, is facing charges of theft, fraud, and money laundering after allegedly swindling his former employer of R16.5 million. Moema appeared in court for the second time on Tuesday, where it was decided that he will remain in police custody until next week. The case has been postponed to April 18 for a formal bail application.
The allegations against Moema suggest that between 2021 and 2022, he diverted funds intended for sponsoring deserving students’ education to companies associated with his friends. These funds were then purportedly channeled back to Moema. KPMG stated that Moema was fired in November 2022 following an internal disciplinary process and that criminal charges were filed against him in February the following year.
Despite the alleged fraud, KPMG assured that approved bursaries were not affected and all commitments were honored. However, they expressed disappointment over the lost opportunity to assist additional students and reiterated their commitment to supporting students through their bursary program.
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