Former Kenyan Insurance Company Manager Imprisoned for 9 Years for Stealing Sh62.7 Million from His Employer
Lincolin Kivuti Njeru, a former investment manager at Insurance Company East Africa (ICEA) was on Monday sentenced to nine years in prison for stealing over Sh62.7 million from his employer.
Njeru was handed the prison sentence by Chief Magistrate Francis Andayi of Milimani law courts after he was found guilty of the charges leveled against him.
He was accused of receiving the said amount through the collapsed Nyaga Stockbrokers for the sale of ICEA share investments between 2003 and 2005. Instead of depositing the money into ICEA's accounts, Njeru channelled the proceeds to his personal accounts.
While pleading for a non-custodial sentence, Njeru told probation officers that he regretted committing the offense, blaming it on “greed and young stupid mind.” He added that he could have refunded the money if he was financially stable.
But Magistrate Andayi rejected the probation report and handed Njeru, 58, the jail term without an option of fine, saying the amount lost was colossal.
He also dismissed the convict's claim that it was an investment loss, stating that audit reports, evidence by the prosecution and the chain of cash transactions clearly showed Njeru stole the millions.
“From the totality of evidence presented by the prosecution the losses experienced by ICEA were correctly linked to the accused person and not as investment losses as he purported,” Andayi ruled, giving Njeru 14 days to appeal against the sentence.
Comments (7)
LAKINI UHURU NA RUTO BADO WAKO FREE..
KWERI KENYA INA WENYEWE.
GREED, WE UNDERSTAND. JUSTICE SYSTEM AT ITS BEST??? BS...
THE LIKES OF UHURU,RUTO, RAILA, WAIGURU,
WAITITU,SONKO ,JOHO WHO HAS STOLEN BILLIONS ARE STILL WALKING FREE.
Good. We need to see more of this.
Hope the same happens to Dr lootAll
Poor Lincolin Kivuti Njeru, how about Waiguru? He should have contact Baba at Hill-Top or what his office is called to be sanitized... poor man. And the rest when are they going to jail.
Please someone take all stealing cases to be handled by Magistrate Andayi and Mumbi Ngugi and jail all kenyan politicians for stealing.
JAMBAZI Kivuti gets nine years like jambazi Kentan Somaia.How come jambazi Uhuru & his gang have not even made a statement after looting/"EATING" shs 78b.in COVIDGATE SCANDAL in three months?Were their tribal supporters paid dividends?How come Raila has never made a statement after leading a group of murderers to butcher 1300 people in 07/08 PEV?The guy has never denied it.Where are majambazi Wanjigi,Murathe and Pattine?Kabogo,Joho,Sonko,Wambui & Co.are still financing/sponsoring kina Uhuru,Raila,Ruto and other thugs in presidential elections?Gathoni,Orengo & Co.MP thugs are still increasing their pay and "EATING" CDF?Dawa ni RISASI TU.