Former MASLOC boss, head of operations to face judgement April 16

The Financial and Economic Division of the Accra High Court has set April 16, 2024 to deliver judgement in the case in which former Chief Executive Officer (CEO) of the Microfinance and Small Loans Centre (MASLOC), Sedina Christine Tamakloe Attionu and interdicted Head of Operations, Daniel Axim are standing trial.

The Court fixed the date after the 2nd accused person, Daniel Axim, was forced to close his defence after he failed to produce a witness as requested.

The former CEO and former Chief Operations Officer at MASLOC are both being charged with conspiracy to Stealing, stealing, causing financial loss to the State, causing loss to public property, Improper Payment of Public Funds, Unauthorized Commitment resulting in Financial Obligation for the Government, Money Laundering and Contravention of the Public Procurement Act.

They have both since pleaded not guilty to the combined 78 charges before the Court.

According to facts of the case, in 2017, the Economic and Organised Crime Office (EOCO) conducted investigations into certain fraudulent disbursement of MASLOC funds involving the 1st and 2nd accused persons.

The investigations, according to the State, revealed that in June 2014, MASLOC invested a sum of GH¢150,000 in Obaatanpa Micro-Finance Company Limited (Obaatanpa), a licensed Tier II microfinance company located at Ejura in the Ashanti Region.

Thereafter, the 1st accused person (Sedinam Tamakloe) offered Obaatanpa a further investment sum of GH¢500,000.

As a result, a MASLOC Agricultural Development Bank (ADB) cheque dated 24th July, 2014, in the sum of GH¢500,000 was drawn in favour of Obaatanpa. Soon after Obaatanpa received the MASLOC cheque, the 1st accused person informed the Board Chairman of Obaatanpa that the investment amount of GH¢500,000 would attract 24% interest.

Obaatanpa decided to return the amount to MASLOC since the interest rate being demanded by the accused person was too high and unprofitable for its business and issued a cheque in refund of the loan amount.

Facts further revealed that upon presentation of the cheque, the 1st accused person declined to accept the cheque and made a demand for a cash refund.

The Court presided over by Justice Afia Serwah Asare-Botwe, a Justice of the Court of Appeal sitting as an additional High Court judge has therefore directed both Prosecution and the defence to file their written submission by March 22 before final judgement is heard on April 16.

 

Source:myrepubliconline