Johannesburg, South Africa — Three males accused of defrauding a college bursary scheme out of greater than 16 million rand ($863,000, £693,000) have been granted bail by the Palm Ridge Magistrate’s Court in Johannesburg.
The suspects, Fidelis Moema, Lebogang Sigubundu, and Trevor Machimana, had been arrested final month following allegations that they illegally transferred funds from the finance firm KPMG to non-public financial institution accounts.
The courtroom has set the bail at 50,000 rand every for the accused, who’re alleged to have collaborated on this scheme from October 2019 via 2022. Despite the intense accusations, all three males are reported to be planning to plead not responsible and have but to enter a proper plea.
Details from the case reveal that Fidelis Moema, a 32-year-old former human sources employee at Ford Motors and model ambassador for a number of firms together with Woolworths, was reported to the police following disciplinary proceedings at KPMG. This incident has raised questions in regards to the oversight and administration of company funds, notably these supposed for academic assist.
The prosecution, led by the National Prosecuting Authority spokesperson Phindi Mjonondwane, has indicated that the proof in opposition to the trio primarily stems from testimonies supplied by Moema’s ex-girlfriends.
Mjonondwane additionally hinted that the variety of people concerned may improve because the investigation progresses, stating, “The number of people we are looking at might increase. We prefer to wait for the right moment. When we are at the stage to disclose our docket, we will be able to tell how many people have been added to the case.”
The case is scheduled to proceed on May 24, the place state prosecutors are anticipated to current extra witnesses. This ongoing investigation highlights the challenges of managing and safeguarding funds allotted for academic functions and the significance of sustaining stringent monetary controls inside company and tutorial funding packages.
https://www.africanexponent.com/south-african-trio-granted-bail-in-university-bursary-fraud-scandal/
