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Former ICEA Manager Convicted Of Stealing Ksh62.7 Million Set Free

Mr Lincolin Kivuti Njeru.
Mr Lincolin Kivuti Njeru. [PHOTO/ COURTESY]

Former Insurance Company East Africa (ICEA) manger Lincolin Kivuti Njeru, who was convicted of stealing Ksh62.7 million from his employer has been set free.

Mr Njeru had been jailed for nine years in September 2020, but applied for a review of his term over ill-health.

In court filings, Njeru says that he is asthmatic, and his stay in jail could endanger his life during the Covid-19 times.

In his ruling, Justice Hedwig Ong’udi set Njeru free and put him on probation for three years, under the supervision of Macharia P. N., a probation officer.

“I have considered the application, the period of waiting for this matter to be concluded, the applicant’s deteriorating health, and the Probation Officer’s report filed on September 21, 2020 before sentence. The Probation Officer’s report has also made mention of the applicant’s poor health,” ruled Justice Ong’udi.

Read: Former ICEA Manager Lincolin Kivuti Jailed For 9 Years For Stealing Ksh62.7 Million

The case has been running for a period of 12 years, from October 4, 2008 to September 15, 2020. ICEA has already filed a civil suit for refund and recovery of the stolen money.

“The applicant needs to be out there to organise for the refund depending on the outcome of the civil case. As found by the Probation Officer the applicant is actually a candidate for a non custodial sentence,” said Justice Ong’udi.

Njeru, who was ICEA’s investment manager, stole the cash through the collapsed Nyaga stockbrokers for sale of ICEA share investments and channelled the proceeds to his personal accounts instead of wiring the money to the company’s accounts.

“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,” ruled Magistrate Francis Andayi while sentencing Njeru.

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Written by Francis Muli

Follow me on Twitter @francismuli_. Email

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