State says it's looking for more people in the KPMG bursary fraud case

JOHANNESBURG - The state says there are still people of interest it's looking into, regarding the multi-million KPMG bursary fraud case.

Friday, the alleged mastermind behind the corporate heist, Fidelis Moema was released on R50,000 bail along with his two co-accused.

Between 2019 and 2022, Moema allegedly made 431 fraudulent transactions as KPMG’s bursary fund specialist.

He then allegedly diverted R16 million of bursary money away from deserving students to himself and his friends.

The two other accused in this case are businessman Trevor Machimana and Tshwane Metro Police officer, Lebogang Sigubudu.

From the R16.5 million loot, the state says businesses registered to Machinana received over R1 million from KPMG while Sigubudu got R657,000.

Gauteng National Prosecuting Authority Spokesperson Phindi Mjonondwane says there is a possibility of more arrests.

“Investigations are ongoing. There are people of interest that we are looking into so we will be guided by what the investigation uncovers.”

The matter has been adjourned to 24 May for further investigations.