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.

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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.

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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.