Mr Vital Kamerhe was found guilty of diverting public funds in a national housing project which the government launched last year.
Mr Kamerhe had been accused of embezzling public funds allocated for the erection of prefabricated houses intended for soldiers and police.
Although several observers were critical of the court case, arguing that there was insufficient evidence against Mr Kamerhe, the judge said there had indeed been “criminal intention” on his part and the businessman to divert some $48 million from the housing project.
However, Mr Kamerhe’s lawyers said they would challenge the judge’s decision.
“[The] judge did not prove how Vital Kamerhe embezzled the money.”