MASLOC Scandal: Judgment Day for accused CEO Sedina Tamakloe Attionu

Ghanaian

The High Court in Accra is set to deliver its verdict today in the case involving Sedina Tamakloe Attionu, the former CEO of the Microfinance and Small Loans Centre (MASLOC), who is accused of causing a financial loss of GH¢90 million to the state.

At the previous hearing on February 27, Justice Afia Serwah Asare Botwe directed both the prosecution

Read full articleand defence to file their written submissions by March 22.

Attionu is facing 78 charges, including conspiracy, stealing, unauthorized commitment leading to financial obligations for the government, improper payment, money laundering, and contravention of the Public Procurement Act. She is on trial alongside Daniel Axim, a former Operations Manager of MASLOC.

The prosecution alleges that Attionu and Axim stole GH¢3.19 million while at MASLOC and caused a financial loss of GH¢1.97 million to the state.

They are also accused of making unauthorized commitments resulting in financial obligations for the government amounting to GH¢61.74 million.
Furthermore, they are charged with GH¢22.15 million loss of public property, improper payment of GH¢273,743, and money laundering of GH¢3.7 million.

In a twist, Attionu has been absent from the trial after being allowed to travel to the United States for medical treatment in 2021 but failing to return. The court granted a prosecution request to conduct the trial in her absence.

The prosecution's case alleges that MASLOC invested GH¢150,000 in Obaatanpa Micro-Finance Company Limited in 2014, with Attionu later offering a further GH¢500,000 investment. When Obaatanpa decided to return the GH¢500,000 investment due to unfavorable interest rates, Attionu demanded a cash refund, which was handed over at a Total Filling Station on Spintex Road in Accra.

Attionu acknowledged receipt of the refunded sum in a letter dated August 28, 2014, but investigations later revealed that MASLOC had no record of the amount being paid back, indicating that Attionu had appropriated the GH¢500,000.

The case has garnered significant attention due to the high stakes involved and the complexity of the allegations. The judgment today will determine the fate of Attionu and Axim, and it will be closely watched by the public and legal observers alike.