Former MASLOC CEO In US Amid Corruption Conviction, Government Assures Of Extradition

Former MASLOC CEO In US Amid Corruption Conviction, Government Assures Of Extradition

  • Former CEO of Microfinance and Small Loans Centre (MASLOC) Sedina Tamakloe is the subject of extradition processes after her corruption sentence
  • Tamakloe was sentenced to 10 years in prison in absentia after leaving for the US in 2021 and not returning
  • She was sentenced for causing financial loss to the state, money laundering, and theft, among others

Former CEO of Microfinance and Small Loans Centre (MASLOC) Sedina Tamakloe has seemingly fled to the US amid the corruption trial that ended up with her getting a 10-year sentence for causing GH¢90 million in financial loss to the state.

Tamakloe was sentenced in absentia on April 6, 2024, after being out of the country since 2021.

Sedina Tamakloe is the subject of extradition processes
Sedina Tamakloe was sentenced on some corruption-related charges. Source: Sedina Tamakloe Attionu
Source: Facebook

She was allowed to leave the country for the US on medical grounds.

Former Chief Executive Officer of Ghana National Petroleum Corporation, Alex Mould, and actor Gavivina Tamakloe paid the GH¢5 million bail bond because of Tamakloe's absence.

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In light of this, Deputy Attorney General Alfred Tuah-Yeboah told Citi News the government is working to extradite Tamakloe to serve her 10-year jail term.

“Good news, but what is refreshing is that she will be brought down to face the sentence, no problem at all,” Tuah-Yeboah stated.

He said processes were already ongoing to bring her back to Ghana and believes the judgement will expedite the extradition process.

What was Tamakloe convicted of?

Tamakloe was found guilty of stealing, conspiracy to steal, money laundering, and causing loss to public property in contravention of public procurement law.

The former COO of MASLOC, Daniel Axim, was jailed for five years with hard labour on the same charges.

They were both found guilty on 78 counts of the charges following their trial, which started in 2019.

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The charges pertain to misappropriating money for official activities between 2013 and 2016 under the Mahama administration.

Why was Sedina Tamakloe being tried for corruption?

According to the facts of the case first filed in court in 2017, the Economic and Organised Crime Office (EOCO) investigated certain fraudulent disbursements of MASLOC funds involving Tamakloe and Axim.

The investigations revealed that in June 2014, MASLOC, which has been the subject of other scandals, invested GH¢150,000 in Obaatanpa Micro-Finance Company Limited (Obaatanpa), a microfinance company located at Ejura in the Ashanti Region.

Afterwards, Tamakloe offered Obaatanpa another sum of GH¢500,000, but the firm refused because of the high-interest rate. However, the expected refund of GH¢500,000 was not reflected in MASLOC books.

In another instance, the duo were also found guilty of appropriating over GH¢1.7 million for a sensitisation exercise.

According to the facts of the case, MASLOC was expected to provide GH¢20 each for 85,300 beneficiaries, amounting to GH¢1.7 million.

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However, only GH¢1,300 was spent for the intended purpose, and Tamakloe and Axim misappropriated the rest.

Former Capital Bank CEO Ato Essien sentenced to 15 years reported that the Former CEO of the now-defunct Capital Bank, William Ato Essien, was sentenced to 15 years in jail.

Ato Essien was convicted of stealing GH¢90 million of Bank of Ghana’s monetary support for his bank.

The former CEO had earlier agreed to pay back the GH¢90 million but was unable to do so.


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