Ex-Kenya Re Finance Director John Faustin Kinyua and former Heritage Insurance Reinsurance Manager Charles Gichane have been fined Sh7.3m each for defrauding Kenya Re of a house in Embakasi’s Villa Franca estate in 2003.
The house, valued at Sh3.1million in 2003, was given back to Kenya Re in February, 2011.
Magistrate Lawrence Mugambi convicted and sentenced the two on Monday after finding them guilty of fraudulent disposal of public property.
Mr Kinyua was also found guilty of abuse of office. This was the second trial and conviction of the two.
The first trial was quashed in 2014 and the process started afresh.
Magistrate Mugambi has given the duo 14 days to appeal against their conviction.