The court case of KPMG bursary specialist, Fidelis Moema, has been postponed to 9 April 2024 for formal bail application.

This after Moema, who faces charges of theft, fraud, and money laundering, appeared at the Palm Ridge Commercial Crimes Court on Tuesday, 2 April 2024 after he handed over himself to the Hawks’ Serious Commercial Crimes Investigation team in Johannesburg.

According to a statement from the South African Police Service (SAPS), Moema is accused of misdirecting funds intended for bursary recipients between 2021 and 2022.

‘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. The money would then be paid back into his personal bank account,’ police said in a statement.

As per the SAPS statement, Moema’s fraudulent actions led to the audit firm suffering a loss of R16.5 million.

Source: South African Government News Agency