The former BRD Chief Executive Officer, Alex Kanyankole, has been sentenced to six years in prison for charges including favouritism and receiving undue benefits.
The Nyarugenge Intermediate Court, which delivered the verdict against Kanyankole in absentia on Thursday, also ordered him to pay a fine equivalent to Rwf22.5 million.
The court concluded that he biasely approved a loan worth $8.1 million (about Rwf7 billion) to a fertilizer distribution firm known as Top Service.
The company would use the funds to import fertilisers in 2017.
In another charge, Kanyankole was pronounced guilty receiving illegal benefits.
Court said he received equipment worth $12,500 (about Rwf10 million) from another bank customer, Abdu Gahima, Chairman and Legal Representative of Good Harvest School and also unilaterally approving another loan to Trust Industries, a manufacturing plant.
Meanwhile, the acquitted Kanyankole’s co-accused, Francis Kalema of all charges.
He had been accused of conniving with his boss to solicit a bribe from the same client of between Rwf50m and 70.
Taarifa broke the news of his dismissal by the board in December 2017.
He would be arrested in October 2018 by Rwanda Investigation Bureau.
He was never released until his conviction, he court fearing that he would temper with investigation.
He may appeal against the verdict, despite his lawyers not having appeared before court during the reading of his sentence.