Former Kenya-Re boss fined KSH 15.2 million over fraud case
Former Kenya-Re boss Jackson Githaka was on Tuesday fined ksh 15.2 million over fraud case by Anti-Corruption Court.
Magistrate Felix Kombo in his ruling said that there is enough evidence to prosecute Githaka for fraudently acquiring public property.
Githaka is accused of illegally obtaining Ksh.7.26 million paid to Kenya Re by United Insurance Corporation.
The court further heard that Githaka, the then Kenya-Re MD and Statutory Manager United Insurance Company wrote to Muriu Mungai and Co. Advocates on January 27, 2006 instructing them to release the 3percent commission of the sale price to an agent who was not specified.
Johnson Githaka used the commission to purchase Nairobi Block 90/298 situated in Loresho estate and registered in his name and that of his spouse.
If he fails to pay the fine the ex Kenya boss risk being jailed for two years.