KPMG assures approved bursaries unaffected despite employee embezzling R16.5m meant for students

Accounting firm KPMG said that despite losing over R16 million meant for students, approved bursars have not been impacted and they have honoured all commitments.This comes after the Directorate for Priority Crime Investigation, also known as Hawks, arrested a 32-year-old Johannesburg man on charges of theft, fraud, and money laundering of R16.5 million which was meant for bursary recipients.The accused, Fidelis Moema, was arrested on Tuesday after he handed himself over to Hawks’ Serious Commercial Crimes Investigation team.It is alleged that Moema diverted millions of funds, intended…