Magistrate slams Moema, co-accused in KPMG fraud case for using money meant for students

JOHANNESBURG - The magistrate in the R16 million KPMG bursary fraud case has slammed the accused men for denying students an opportunity to further their education. 

On Friday, magistrate Sharon Soko granted R50,000 bail each to Fidelis Moema and his alleged accomplices Trevor Machimana and Lebogang Sigubudu. 

The trio appeared in the Palm Ridge Specialised Commercial Crimes Court. 

Moema is accused of siphoning R16.5 million during his role in the audit firm between 2019 and 2022 while he was a bursary specialist.

Soko said it was clear from the bank statements presented to the court, that money meant for students was diverted towards the accounts of the three accused men. 

READ: Ex-girlfriends of alleged KPMG fraudster Moema turn as State witnesses against him

"Accused number one was in a position of trust in order to ensure that KPMG provides the needy and young students for funding for their education. The country has a problem with the funding of education hence companies like KPMG have to assist."

In a recent statement by KPMG, the company said all beneficiaries received their bursary funding despite Moema’s actions.

The matter returns to court on 24 May.