Court Issues Arrest Warrant For Former MASLOC CEO Sedina Tamakloe
- A High Court in Accra has issued an arrest warrant for former CEO of Microfinance and Small Loans Centre (MASLOC) Sedina Tamakloe Attionu
- 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
A High Court in Accra has issued an arrest warrant for former CEO of Microfinance and Small Loans Centre (MASLOC), Sedina Tamakloe Attionu.
This follows her sentence to 10 years in prison for causing GH¢90 million in financial loss to the state.
Source: Facebook
The warrant comes after a motion filed by the lawyers representing the prosecution.
Tamakloe was sentenced in absentia on April 6, 2024, after being out of the country since 2021.
She was allowed to leave the country for the US on medical grounds.
Deputy Attorney General Alfred Tuah-Yeboah earlier assured that the government was working to extradite Tamakloe to serve her 10-year jail term.
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.
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 case facts, MASLOC was expected to provide GH¢20 each for 85,300 beneficiaries, amounting to GH¢1.7 million..
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
YEN.com.gh 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 could not.
PAY ATTENTION: Stay informed and follow us on Google News!
Source: YEN.com.gh
