The appetite for quick money is threatening the Kenyan economy as many are stealing public resources to enrich themselves.
Despite president Uhuru Kenyatta’s warning over leaders feeding wives and children, cases are still coming to the limelight of how millions are sinking into individual pockets.
The anti-corruption court has slapped a former director of Kenya Reinsurance Corporation (Kenya Re) with a fine of Sh15.2 million after was found guilty of stealing Sh7.26 million.
Mr Johnson Jackson Githaka is also staring at a two-year jail term in case he fails to pay the fine.
The court found that Mr. Githaka fraudulently obtained Sh7.26 million paid by United Insurance Corporation to Kenya Re.
On September 23, 2005, United Insurance invited bids from interested buyers for United Insurance Towers, its headquarters, situated along Westlands Museum Hill Road.
The building was eventually bought by PTA Reinsurance Company for Sh242 million.
PTA paid the initial deposit of Sh24.2 Million through Muriu Mungai and Co. Advocates on December 23, 2005.
On January 27, 2006, Mr. Githaka, then Kenya Re managing director and also the statutory manager of United Insurance Company wrote to Muriu Mungai and Co. Advocates instructing them to release the commission of three percent of the sales price to an unspecified agent. That amounted to Sh7,260,000.
EACC investigations established that there were no agents in the sale of United Insurance Towers as the process was through competitive bidding.
On his part, Mr. Githaka said that since he was a board member of PTA Reinsurance Company who purchased United Insurance Towers, he was entitled to the three percent commission which he later used to purchase personal property in Loresho, Nairobi.