Sedina Tamakloe Attionu, the former CEO of the Microfinance and Small Loans Centre (MASLOC), has been sentenced to ten years of imprisonment with hard labor. The judgment was delivered in a court session on Tuesday, April 16, 2024.
Daniel Axim, the former Chief Operating Officer of MASLOC, received a five-year sentence alongside Attionu. Both were convicted on 78 counts of financial crimes, including causing financial loss to the state, theft, conspiracy, money laundering, and violations related to public procurement.
The trial, which began in 2019, reached its conclusion after a lengthy legal process. Notably, Attionu was tried in her absence, having fled the country following a court-approved medical trip abroad.
According to citinewsroom.com, the state’s case was supported by testimony from six witnesses. The prosecution charged that Attionu and Axim embezzled GH¢3.19 million from MASLOC, directly causing a financial loss of GH¢1.97 million to the state.
The accusations extended to unauthorized commitments by the defendants, resulting in governmental financial obligations of GH¢61.74 million. Additional charges included causing a loss of GH¢22.15 million in public property, improper payments totaling GH¢273,743, and laundering GH¢3.7 million.
In a pivotal moment, the court granted the prosecution’s motion to proceed with the trial in Attionu’s absence on February 24, 2023. This decision followed her failure to return from the United States, where she had traveled for medical treatment in 2021.
Before the trial in absentia, on January 24, 2023, the court held Alex Mould and Gavivina Tamakloe accountable for their inability to produce Attionu, whom they had vouched for with a bail bond of GH¢5 million.
The case against Attionu and Axim stemmed from a 2017 investigation by the Economic and Organised Crime Office (EOCO) into fraudulent disbursements at MASLOC.
In June 2014, MASLOC invested GH¢150,000 in Obaatanpa Micro-Finance Company Limited. Attionu later offered an additional GH¢500,000 investment, issuing a cheque from the MASLOC Agricultural Development Bank (ADB) to Obaatanpa on July 24, 2014.
Upon receiving the cheque, Attionu demanded a 24% interest rate from Obaatanpa. When the company refused, she requested a cash refund, which Obaatanpa complied with, returning GH¢500,000 on August 28, 2014.
Despite Attionu’s acknowledgment of the refund, subsequent investigations revealed no record of the repayment at MASLOC. It was alleged that she had diverted the funds for personal use.
In 2015, MASLOC demanded interest payments from Obaatanpa on the initial investment, despite the refund. Further investigations uncovered discrepancies, suggesting Attionu’s misappropriation of the funds.
The case has drawn significant attention due to the high-profile nature of the accused and the substantial financial impact on the state. The sentences handed down reflect the severity of the crimes and the court’s commitment to upholding justice.
