•The magistrate suspended the sentence for one year to allow the accused persons to settle the remaining balance of Sh15 million.
•But Obadiah and Moraa appealed against their conviction and sentencing.
Image: FILE
Two traders who were convicted for stealing Sh96 million from Guaranty Trust Bank of Kenya (GTB) have until June 8 to refund part of the money to secure their freedom.
High Court Judge Kanyi Kimondo said Obadiah Nyambane Gwaro and Gladys Moraa Gichana should refund GTB Sh3,043,384 million each. The money is to be paid within four months from February 8.
On January 12 last year, the then Milimani Chief Magistrate Francis Andayi sentenced Gladys Moraa, Graham Sagwe, former Fina Bank Manager, Robert Moseti and Obadia Nyambane to 18 months in prison after they managed to repay over Sh80 million to the lender.
The magistrate, however, suspended the sentence for one year to allow the accused persons to settle the remaining balance of Sh15 million after which they will have fully secured their freedom in an out-of-court settlement.
But Obadiah and Moraa appealed against their conviction and sentencing.
When their appeals were mentioned on February 8 this year, they abandoned their appeals on conviction. They also offered to refund Guaranty Trust Bank Kenya Sh3 million each.
Justice Kanyi Kimondo said even though the two had abandoned the appeal, he was still satisfied that their conviction was safe.
“I also find that the sentence on restitution was well within the law. But I find that the more appropriate course for the lower court should have been to apportion blame on liability to each of the appellants,” he said.
He said each of the two appellants should refund GTB Sh3,043,384 million. In default, GTB will be free to execute for payment of the said money.
“Since the restitution order carried a suspended sentence, in the event of default, the appellants will be arrested to serve the suspended sentence by the lower court of 18 months in jail,” he said.
If the two manage to pay the money in full, their sentence will be set aside.
In the case, the Sh96 million was diverted from paying a Chinese contractor-Garden Real Estate Development Limited-to a Kenyan firm, Malch Construction Ltd associated with Don Bosco Gichana, which had not handled any construction works.