EX-MASLOC Boss, other jailed 15years
Former Chief Executive Officer of the Microfinance and Small Loans Centre (MASLOC), Sedinam Tamakloe-Attionu, and former Chief Operating Officer Daniel Axim have been sentenced to prison with hard labour for their involvement in a series of financial misconducts that led to substantial losses to the state.
After a trial that commenced in 2019, Tamakloe was handed a 10-year prison sentence, while Axim received a five-year sentence, both with hard labour. The charges against them included causing financial loss to the state, theft, conspiracy to steal, money laundering, and violating public procurement laws. The case involved a total of 78 counts, each detailing instances of financial impropriety committed during their tenure at MASLOC between 2013 and 2016.
One of the instances that led to their conviction involved the withdrawal of GH¢500,000 as a loan for Obaatampa Savings and Loans company. When the financial institution refused a 24% interest rate, the funds were demanded back. While evidence of repayment was found, it was not properly reflected in MASLOC’s accounts, leading to discrepancies.
Furthermore, Tamakloe and Axim were found guilty of misusing over 1.7 million Ghana cedis meant for a sensitization program. Despite funds being allocated for 85,300 beneficiaries, only a fraction of the money was disbursed as intended, with the rest allegedly misappropriated. Similarly, funds designated for victims of a fire in Kantamanso were not fully distributed, indicating a misuse of resources.
The case also highlighted instances of overpayments for vehicle and Samsung phone purchases, with the amounts exceeding market prices at the time, despite being bought in bulk. Additionally, Tamakloe and Axim were accused of making unauthorized commitments that resulted in significant financial obligations for the government, amounting to GHC61,735,832.50.
Further charges against the two included a loss of GHC22,158,118.85 to public property, improper payments of GHC273,743.66, and money laundering amounting to GHC3,704,380, all of which were carried out during their time at MASLOC.
During the trial, Tamakloe, the first accused, was tried in absentia as she absconded following court permission to seek medical treatment abroad. Axim, the second accused, testified in person but did not call any witnesses to support his defense.
The judge, in delivering the verdict, emphasized the severity of the offenses committed by Tamakloe and Axim, stating that the sentences were meant to serve as a deterrent to others engaging in similar acts of corruption. The duo has been remanded into custody to begin serving their sentences. The court’s decision sends a strong message against financial misconduct and corruption within public institutions.