Former KPMG bursary specialist, Fidelis Moema, will remain in police custody until next week after his matter was postponed in court for a formal bail application.

Moema made his second appearance at the Palm Ridge Commercials Crime Court on Tuesday. He is accused of swindling his former employer to the tune of R16.5 million.

He is facing charges of theft, fraud and money laundering.

The spokesperson for the Directorate for Priority Crime Investigation, also known as the Hawks, Warrant Officer Thatohatsi Mavimbela, confirmed to IOL News that Moema’s case has been postponed to next week, Thursday April 18, for a formal bail application.

The 32-year-old former bursary specialist at KPMG, was arrested by the Hawks, after he handed himself over to the Hawks’ Serious Commercial Crimes Investigation team in Johannesburg.

The case of fraud against the 32-year-old former bursary specialist at KPMG, Fidelis Moema, has been postponed to next week Thursday, April 18, for a formal bail application. Photo: Facebook

KPMG said last week it fired Moema in November 2022 after an internal disciplinary process. It opened criminal charges against him in February last year.

It is alleged that Moema, between 2021 and 2022, diverted millions intended to sponsor the education of deserving students, to companies associated with his friends.

The funds were then allegedly channelled back to Moema.

During the investigation, KPMG said that it identified that Moema was allegedly colluding with external parties and no other parties within the firm were identified.

Regarding approved bursaries, KPMG said they were not impacted and they have honoured all their commitments.

“The bursary programme will continue to support students in enhancing the profession. The most disappointing aspect of this situation is the lost opportunity to assist additional students.”

simon.majadibodu@africannewsnewsagency.com

IOL NEWS