FORMER KPMG bursary specialist Fidelis Moema and two co-accused linked to money laundering and fraud have been granted R50 000 bail each by the Palm Ridge Magistrates Court.
However, this comes with strict conditions, including surrendering their passports, not intimidating witnesses in the case and finally attending court on every date, time and venue.
Should they fail to attend court, a warrant of arrest will be issued immediately against them, bail cancelled, and money forfeited.
This was emphasised by Magistrate Sharon Soko when Moema (32) and his co-accused business tycoon Trevor Machimane (39) and Metro cop Lebogang Sigubudu (36) appeared in court on Friday, 19 Apri.
Moema is accused of defrauding his former employer, KPMG, an audit firm in Joburg, of more than R16,5 million.
It was alleged that he used companies, private individuals and girlfriends to launder money.
Among those arrested were co-accused Sigubudu and Machimane, who allegedly benefited from Moema’s crimes, which began in 2019 until 2022.
Sigubudu and Machimane face charges of money laundering and theft, while Moema faces 431 counts of fraud, 431 counts of theft, and 431 counts of money laundering.
In court, Soko said there is no likelihood that the accused will jeopardise the proper functioning of the court proceedings or bail system.
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She further referred to the bail money suggested by each accused, claiming that it was too little, given that Sigubudu has requested R4 000, Machimane R3 000, and Moema R25 000.
"The bail amounts suggested by applicants one, two and three are too low as they are not poor individuals but directors of companies. The criteria for fixing the amount of bail are that it must be within the means of affordability of the applicants.
"The monthly income in the household of accused two is over R100 000 per month. That'll be the reason this court won't fix bail amounts suggested by the three applicants. The bail of each applicant is therefore fixed at R50 000"
National Prosecuting Authority (NPA) spokeswoman, Phindi Mjonondwane, welcomed the judgment.
She said the NPS was looking for more suspects as she reflected on the trails of people who allegedly received some of the stolen funds.
"Witnesses who feel their lives are threatened must come forward for the state to take steps. So far, we haven’t received such reports of threats.
“The number of people we're 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,” said Mjonondwane.
She added that investigations into the matter are continuing.
“We'll be guided by what would be uncovered by the investigations. We hope that when the matter returns to court next month, the investigations would have gathered more information from stakeholders and our partners,” she said.
