The anti-corruption court has fined former Kenya Reinsurance Corporation financial controller Faustin Kinyua shs 7.3 million after he was found guilty of abuse of office charges.
Magistrate Lawrence Mugambi said Kinyua will serve three years behind bars if he defaults.
Ex- reinsurance manager Charles Gichane suffered the same fate.
He was fined shs 7.3 million in default three years in jail.
“From the evidence of this case, it is clear that this was a meticulous plan that the two accused persons took time to plan and execute against Kenya Re Insurance, they succeeded in their mission,” the magistrate said.
Kinyua was found guilty of abuse of office when he allocated and transferred a house belonging to the corporation situated in Villa Franca Estate in Nairobi to Gichane, who was accused of acquiring the property fraudulently.
It is alleged that they committed the offence on diverse dates between August 19 and 27, 2003.
The court yesterday ordered the house at Villa Franca Estate be reverted to Kenya Reinsurance.
Prior to their sentencing, Kinyua in mitigation told the court that he has health issues which have seen him in and out of the hospital.
Gichane on the other hand asked the court to consider his plea on grounds that he is an elderly man of 68 years of age and has five grandchildren under his care.
The two were in 2014 charged afresh after the high court ordered that they be tried anew after finding their 2008 prosecution as defective.