3 men accused of defrauding KPMG of R16m granted bail

Fidelis Moema, Trevor Machimana and Lebogang Sigubudu appeared at the Palm Ridge Specialised Commercial Crimes Court on Friday morning.

Fidelis Moema and his co-accused at the Palm Ridge Magistrates Court on 18 April 2024. They are facing charges of fraud and money laundering after allegedly stealing money meant for bursary recipients during Moema's employment at KPMG. Picture: Xanderleigh Dookey Makhaza/Eyewitness News

JOHANNESBURG - Three men accused of defrauding auditing firm KPMG of over R16 million have been granted bail of R50,000 each.

Fidelis Moema, Trevor Machimana and Lebogang Sigubudu appeared at the Palm Ridge Specialised Commercial Crimes Court on Friday morning.

It's alleged that Moema, a former bursary specialist at the auditing firm, stole money meant for students and sent it to himself and his accomplices.

Magistrate Sharon Soko said that while the State had a strong case against the trio, there was no evidence they would harm any witnesses if they were released on bail.

"It is also clear from the evidence tendered that the three applicants were not beneficiaries of bursaries. The court has to balance the right of liberty with the interest of justice. There is no evidence the three applicants will endanger the public or any person."