Former KenyaRe Director to Serve 3 Years In Jail For Fraud
17.06.19: A Former Director of Kenya Reinsurance Corporation Mr. John Faustin Kinyua has been sentenced to serve three years’ imprisonment without an option of fine by a court for fraudulent acquisition of public property.
Anti-Corruption Court Magistrate Felix Kombo sitting in Milimani found Mr. Kinyua and his co-accused Ms.Njeri Mary Nganga Kimingi guilty on three counts of charges each. The two accused fraudulently acquired a one-acre piece of land and a house owned by Kenya Re at Karen and transferred it to a private entity.
Mr Kinyau is serving another four-year sentence after being convicted in a separate case and failed to pay the fine of Ksh7,393,792. He was convicted of fraudulent sale of Kenya Re’s Property LR. 209/10611/106 House No. 70 situated at Villa Franca sold for Kshs 3,196,896.
On June 12th, 2019, the trail magistrate Mr. Kombo ruled that the evidence presented in court by the Ethics and Anti-Corruption Commission (EACC) through the DPP proved a case against Mr. Kinyua and Ms. Kimingi beyond reasonable doubt.
Mr. Kinyua will serve the sentence without an option of fine while Ms. Kimingi was fined Kshs 1.5 million or a jail term of one and half years in default. But for Ms.Kimingi, the court directed that the prison sentence is non-custodial.
Investigations by EACC established that Kshs. 12,134,504 that was purported to have been paid by Rockhound properties Limited in 2005 for the purchase of the Corporation property were monies paid by United Insurance Company Limited and Alexander Forbes Insurance Brokers Ltd for premiums due to the Kenya Re Insurance Corporation.