More arrests to follow over KPMG R16m bursary money fraud case
JOHANNESBURG - The Hawks are confident KPMG employee Fidelis Moema, accused of stealing R16.5m of bursary funds meant for university students, will not be the only person prosecuted for the money laundering scandal.
Moema appeared in the Palm Ridge Commercial Crimes Court charged with theft, fraud and money laundering. He is accused of stealing R16.5m from the audit firm through making fraudulent transactions between 2021 and 2022.
“Moema (allegedly) misdirected funds meant for bursary recipients. Instead of paying university fees on behalf of students the accused paid the money into bank accounts belonging to friends and people who own companies. The money was then paid into his personal bank account,” said Hawks spokesperson W/O Thatohatsi Mavimbela.
Mavimbela told TimesLIVE the Hawks probed the case after KPMG reported fraud at the company. She said investigations were at an advanced stage and more suspects would be arrested.
“For now, the Hawks arrested Moema as the main suspect but the investigation is continuing and more arrests will be made.”
Moema was hired as a specialist to oversee bursary payments to universities for students. According to his LinkedIn profile he has an Honours Degree in Information Science from the University of Pretoria and worked for Ford Motor company before joining KPMG.
Videos and pictures of Moema depicting a luxurious lifestyle, including a visit to Greece and doing a special helicopter gender reveal of his child, have dominated social media trends.
In one of the videos he posted, Moema talked about differences in perspective of attaining wealth between men and women.
“Women always have a plan B, C and D. Whereas if things do not go their way, their plan B is ‘I can always get a rich boyfriend, husband and I will be fine in life’. As men, we do not have that.
SUCCESSFUL
The reason men become more successful than women is because we do not have a plan B, we are our plan.
If I want to be a millionaire I have to make that happen. I want to become extremely successful, that is all on me. I have to put in the extra hours and sacrifices.”
Audit firm KPMG says despite losing over R16 million meant for students to a former employee, approved bursars have not been impacted and they have honoured all commitments.
The firm said Moema was fired in November 2022 after an internal disciplinary process. In February 2023, the firm approached the Hawks to open a criminal complaint.
It is alleged that Moema, who held a position of Bursary Specialist, diverted millions intended to sponsor the education of deserving students, to companies associated with his friends.
The funds were then allegedly channelled back to Moema.