May 26, 2022

Mawazo Writing Africa

Writing about the main

Former bank boss to repay Sh15m or serve prison term

Chief Justice Francis Andayi found Graham Sagwe, Robert Moseti and Obadah Nyambane guilty of theft, but gave them 12 months to return the money that was irregularly withdrawn from the bank in 2010.

The verdict ended in an 11-year case attempting to uncover theft allegedly hatched by controversial politician Don Bosco Gichana.

Mr. Gichana has not been charged with any crime related to theft.

The court found that the robbery was initiated by Mr Gichana and Mr Sagwe and that Fina Bank had received Shill 96.7 million. were stolen.

Money transferred to an account at Fina Bank by a Chinese company was diverted to Malch Construction, owned by Mr. Gichana.

The money was transferred to a Account diverted from Malch Construction to Eco Bank.

Convicted fraudsters

Mr. Andayi has ordered that 4.5 million shredders will be deposited in court with the Bank, which now operates as Guaranty Trust Bank (GTB).

This means that Mr. Sagwe and Mr. Moseti will receive 10.5 million Shs within 12 months. have to pay.

“If you have received the 10.5 million Sh. have not paid, just go to jail to serve the 18-month sentence, “Mr. Andayi told the convicts.

Although Mr. Gichana was involved in a court case in the theft, he was not charged.

Gladys Moraa, a director at Malch Construction Company and one of the acquitted suspects, told Mr. Andayi that Mr. Gichana had hatched the conspiracy to steal the money and that she did not participate in the robbery or benefit from it have. Ms. Moraa is Mr. Gichana’s sister.

After the money was diverted to Malch Construction, $ 80 million was transferred to two lawyers – Albert Kuloba and Ian Maina.

But the two returned the money to Fina Bank, a move that helped them avoid prosecution for aiding and abetting theft.

Masterminds of Fraud

Mr Sagwe is the directors of the Chinese-owned Garden Real Estate Development Ltd hired another employee ee completed the electronic transfer forms that were used to redirect the payment to Mr. Gichana’s company.

The Chinese company made a purchase Property worth 102 million Sh / p>

Mr. Andayi sentenced to prison after the men said they were remorseful and re-educated themselves during the trial.

“I discover the defendant has been on religious trial for the past 11 years,” said Mr Andayi.

The judge said the suspects were ordered by Judge Mohamed Warsame in 2010 to return the distributed money among five people after it was diverted from Fina Bank to Malch’s account at Eco Bank.

< h2> Sentencing without imprisonment

“After lawyers Albert Kuloba and Ian Maina returned the money received from their law firms, the charges against them were dropped, then they were acquitted of any wrongdoing by Judge Mohamed Warsame” said Mr Andayi to increase 53 witnesses but reduce the number to seven after most of the money was returned to Fina Bank s theft convicted by the defendants is three years without the possibility of a fine, “noted the judge.

” I will however sentence each of them to 18 months imprisonment, but I am going to imprisonment for 12 months suspend the convicts to repay the balance of Sh15 million down to the last cent, as they had promised in their defense. “

Mr. Andayi, who was transferred from Milimani to Nyeri, returned on January, to announce the verdict 10.

The convicts expressed remorse for their mitigation by the lawyer Ishmael Nyari. from bo, who pleaded for a non-custodial sentence.

Guaranty Trust Bank acquired Fina Bank in 2014, four years after Mr Sagwe, Mr Moseti, Mr Nyambane and Ms. Moraa were indicted.