Former KPMG Specialist and Co-Accused Granted Bail on Fraud Charges

The Palm Ridge Magistrate’s Court has approved a R50 000 bail for former KPMG bursary specialist, Fidelis Moema, and two associates who are facing allegations of defrauding the firm of R16.5 million. The funds were initially intended for students under KPMG’s bursary program.

During the bail hearing, Magistrate Sharon Soko cautioned Moema, businessman Trevor Machimana, and Tshwane metro police officer Lebogang Sigubudu not to request passports while the case is ongoing. The trio is collectively confronting over 400 charges of fraud and money laundering, with Moema specifically facing an additional theft charge.

Soko emphasized the importance of the accused refraining from intimidating or communicating with witnesses as the case progresses. She noted that there was no evidence to suggest that the release of the accused would endanger witness safety.

The court also recognized that the accused individuals possessed mortgaged immovable properties and that there was no indication they would obstruct the functioning of the criminal justice system. Therefore, the court decided to grant them bail based on these considerations.

Regional National Prosecuting Authority (NPA) spokesperson, Phindi Mjonondwane, expressed satisfaction with the court’s decision to set bail at R50 000, higher than the amount proposed by the accused. Mjonondwane mentioned that the investigation was ongoing, and additional suspects were being sought after.

The NPA intends to involve the Asset Forfeiture Unit to assess the potential attachment of assets belonging to the accused parties. The case has been adjourned to 24th May for further proceedings.