• Anti-Corruption court finds Kinyua and Gichane guilty of fraud.
Former Kenya Reinsurance Corporation financial controller Faustin Kinyua has been fined Sh7.3 million after he was found guilty of abuse of office charges.
Anti-Corruption Court magistrate Lawrence Mugambi said Kinyua directed Kinyua to spend three years in jail if he does not pay the fine.
Ex-reinsurance manager Charles Gichane was also fined Sh7.3 million after being found guilty of a similar offence.
“From the evidence of this case, it is clear that this was a meticulous found that the two accused person took time to plan and execute against Kenya Re Insurance, they succeeded in their mission,” Mugambi said.
Kinyua was accused of fraudulently allocating and transferring a house belonging to the corporation to Gichane. The house is situated in Villa Franca Estate in Nairobi. The offence was committed on diverse dates between August 19 and 27, 2003.
The court yesterday ordered the house be reverted to Kenya Reinsurance.
Prior to their sentencing, Kinyua asked for a lenient sentence, saying he has health issues which have seen him in and out of the hospital. Gichane pleaded for leniency too, saying he was an elderly man of 68 years with five grandchildren under his care.
The two were in 2014 charged afresh after the high court ordered that they be retried after their 2008 prosecution was found to be defective.