Sedina Tamakloe, the former CEO of the Microfinance and Small Loans Centre (MASLOC), has been sentenced to ten years in jail with hard labor.
In addition, Daniel Axim, the former Chief Operating Officer, has been sentenced to five years of hard labor.
Both persons were convicted on 78 charges, including causing financial harm to the state, stealing, conspiracy to steal, money laundering, and breaking public procurement laws.
With the trial starting in 2019, the state called six witnesses. With authorization from the court, Sedina Tamakloe left the country for a medical examination and was subsequently tried absentee. Daniel Axim did not call any witnesses; he only gave an in-person testimony.
The convictions result from the theft of money meant for MASLOC operations from 2013 to 2016.
Sedina Tamakloe, the first accused, was tried in absentia after she fled the country with permission from the court to seek medical attention abroad. The state called a total of six witnesses. On the other hand, the second accused party gave a direct testimony without calling any witnesses.
The offenses for which the defendants have been found guilty center on the embezzlement of funds intended for MASLOc operations from 2013 to 2016.
In one case, it was discovered that the prisoners had taken out a GH¢500,000 loan for the Obaatampa Savings and Loans company. However, when the bank declined to give them a twenty-four percent commission on the deal, the prisoners sought a return of the money.
