The high court yesterday rejected the appeal by top managers at Sonarwa insurance company and their alleged accomplices, who had last week sought bail giving different reasons.

In denying their plea, court said the accused gave no convincing reason for them to get bail and also premised on the gravity of the crimes they stand accused.

The suspects are; the managing director of the insurance company, Mawadza Nhomo, who is a Zimbabwean national, and Charles Mutsinzi Karake, the chairperson of the board of directors.

The others are Hubert Rumanyika, Gerard Mbabazi and Barnabas Rutagwabira insurance agents and Stevenson Nzaramba the director of planning at the Ministry of Infrastructure.

All the suspects were arrested mid last month and were absent during the pronouncement of the verdict.

According to prosecution, Sonarwa top officials are accused of for allegedly authorizing "illegal” financial transactions amounting to Rwf191 million in a deal between the company and the ministry of infrastructure.

The prosecution says the cases emanate from a contract between Sonarwa and the Ministry of Infrastructure (Mininfra) relating to a tender to give insurance cover to a fleet of cars belonging to the ministry.

But the prosecution says that by virtue of Mininfra being a public entity, no commission was supposed to be paid on the transaction.

The suspects in the case were remanded at different times by the Intermediate courts of Gasabo and Nyarugenge.

During the ruling yesterday, the judge who went through the way each suspect involved in the case said that every accused had played a role in money transactions saying they were all aware that the money was being misused.