Former Chief Executive Officer (CEO) of the Microfinance and Small Loans Centre (MASLOC), Sedina Tamakloe-Attionu has been sentenced to 10 years in prison with hard labour.
Also, the former Chief Operating Officer of MASLOC, Daniel Axim, has been handed a five-year jail term with hard labour.
The two were found guilty on 78 counts relating to causing financial loss to the state, theft, conspiracy to steal, money laundering, and contravening public procurement laws.
The trial which began in 2019, saw six witnesses called by the state. Sedina Tamakloe-Attionu was tried in absentia as she absconded after obtaining court permission for a medical check-up abroad. Daniel Axim testified in person but did not present any witnesses.
Read also: Court considering hauling, charging sureties in case against former MASLOC CEO
The convictions stem from misappropriation of funds allocated for MASLOC activities between 2013 and 2016. In one instance, the convicts withdrew GH₵500,000 as a loan from Obaatampa Savings and Loans company, demanding a refund when the institution refused to provide a 24% interest rate. Although evidence of the refund was presented, it was not reflected in MASLOC's accounts.
The duo was also found guilty of misappropriating over GH¢1.7 million allocated for a sensitisation exercise, with only a fraction of the funds used for the intended purpose. Similarly, funds disbursed for victims of a fire incident at Kantamanso were not fully distributed, with a significant portion misappropriated by the accused.
Read also: EOCO invites former MASLOC CEO but…
The case also involved the purchase of vehicles and Samsung phones for MASLOC, with funds exceeding market prices at the time.
Despite being bought in bulk, evidence suggested that the amounts paid were higher than prevailing market rates.
Latest Stories
-
Mason jailed 3 months for stealing iron rods
8 mins -
Celestine Donkor apologises for ‘joke’ about Ewe surnames
35 mins -
The man who turned his dead father into a chatbot
42 mins -
Slovakia PM Robert Fico not in life-threatening condition – Deputy PM
1 hour -
Police against dumsor vigil near Jubilee House; request change in venue, timing
2 hours -
Wealth gap on voters’ minds as India’s richest city gears up for the election
2 hours -
Lucian Grange and UMG dropped from Diddy accuser’s lawsuit
2 hours -
Oti Regional Police Commander advises party agents against interfering with electoral process
3 hours -
Voters Registration: Over 800 applicants challenged in Volta Region in 7 days
3 hours -
The race to raise blood money to halt an execution
3 hours -
Pathologist reveals Mohbad’s cause of death can’t be ascertained
3 hours -
Why South Africa’s health insurance is causing ructions
3 hours -
Suspect ordered to undergo psychiatric test over murder of father
3 hours -
Gabon’s deposed President Ali Bongo goes on hunger strike
4 hours -
Limited Voters Registration: Getting serial numbers of BVRs unnecessary – Dep EC Chair
4 hours