Alleged KPMG bursary swindler granted R50 000 bail

Fraud accused, Fidelis Moema (32), and two of his co-accused have been granted R50 000 bail.

 

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

 

They face charges of fraud and money laundering.

 

Moema, who is known for his flashy lifestyle and spoiling his girlfriend, Sthe Bhengu made headlines after he allegedly looted bursary funds to the tune of R16.5 million at KPMG.

 

It is alleged that the famous businessman redirected the funds into bank accounts belonging to his friends and companies before depositing the money into his accounts.

 

The National Prosecuting Authority’s (NPA) Phindi Mjonondwane says they cannot rule out the possibility of more arrests in the case.

 

“Investigations are ongoing, there are certain individuals of interest that we are looking into. However, we can’t share much more details so that we can protect the investigation,” she adds.

 

“Remember that we also work with stakeholders like banks to provide us with information and hopefully by then all investigations would have been concluded.”

 

The matter has been postponed to May 24 for the disclosure of the contents of the docket.

 

 

The state revealed that it will call Moema’s ex-girlfriends who benefitted from the R16.5 million to take the stand in the case.

 

State prosecutor, Veronica Dube, says they’ve obtained statements from the identified ex-partners.

 

“Part of the people that were utilised, the trail begins with ex-girlfriends who were very vulnerable people who were assisted to open companies, open business accounts and money was laundered through their business accounts.

 

“This was done under the premise to get tender work. These girlfriends are known to the accused and have all made statements to the state. They will be called to testify before the court.”

Anyone who though Fidelis Moema was going to be denied bail surely lives in a dream world.

— ZacM (@ZacMoselane) April 19, 2024

Fidelis Moema is so stupid 🤦 did he think his ex’s would not turn on him? How do you use ex girlfriends to launder money and think they won’t expose you when things go pear shaped?#KPMG

— Lady Brown (@KellsValentia) April 19, 2024

 

KPMG R16.5m could have supported 41 students at Wits or 82 at UNIVEN from first year to honours

After graduation, they could have supported at least 4 people with their own R64K salaries

Meaning Fidelis Moema robbed at least 400 people. 400 people, on grants, must visit him pic.twitter.com/1tvUAhDc0H

— Seasons (Seed time & Harvest ) (@smile_is_free) April 19, 2024

https://x.com/NanaManana01/status/1781261282194117084

 

Fidelis Moema should have been locked up for just being greedy, earning over R64k a month and still defrauding peeps…. pic.twitter.com/XC0B1M3nIP

— sandile_collin (@sandile_collin) April 19, 2024