G20 South Africa

The chill between South Africa and the US post-G20

Global Citizen reactive statement on G20 outcomes

Michael Sheldrick

Voice of the community: Caxton Media network visibly supports G20 Women’s Shutdown

How South Africa's G20 triumph defied a US boycott

Hugh Hacking

South Africa sees US trade negotiations continuing despite G20 differences

More G20 South Africa

Subscribe & Follow

Advertise your job vacancies

BizTrendsTV

RAPT BizTrendsTV: Mongezi Mtati: Local is better

KPMG scandal: Moema won't stand alone in facing prosecution

The Hawks have expressed certainty that Fidelis Moema, a KPMG employee accused of embezzling R16.5m in bursary funds designated for university students, will not be the only person facing prosecution for the money-laundering scandal.

8 Apr 2024

Source: KPMG.

Moema made an appearance at the Palm Ridge commercial crimes court, facing charges of theft, fraud, and money laundering.

Allegations suggest that between 2021 and 2022, he embezzled R16.5m from the audit firm by orchestrating fraudulent transactions. This, while tasked with managing bursary payments to universities on behalf of students.

According to Hawks spokesperson warrant officer Thatohatsi Mavimbela, the Hawks initiated an investigation into the case subsequent to KPMG reporting fraud within the company.

She said, instead of paying university fees for students, Moema allegedly transferred the money into bank accounts of acquaintances and companies. Ultimately, the funds were redirected into his personal bank account.

Mavimbela confirmed that investigations were progressing and additional suspects would soon be apprehended.