Martin Kpebu calls for asset seizure of jailed MASLOC CEO to recoup funds

Ghanaian

Private legal practitioner Martin Kpebu has voiced his interest in the state's strategy to recover funds from the imprisoned former Chief Executive Officer of Microfinance and Small Loans Centre (MASLOC), Sedina Tamakloe, who received a ten-year sentence for causing financial loss to the state.

He stressed the need for the prosecution to seize her assets to recoup the misappropriated funds.

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“Recovery of the money is more important. I’m expecting the prosecution to confiscate her assets to recover the money,” he stated on TV3.

Alongside Sedina Tamakloe, the Director of Operations at MASLOC, Daniel Axim, was also sentenced to five years in prison.

Both individuals were convicted by the Financial and Economic Court 2 of the Accra High Court for their involvement in causing financial loss to the state.

Initially, they had pleaded not guilty to a total of 78 charges, including conspiracy to steal, stealing, causing financial loss to the state, and money laundering, among others.

In her ruling on Tuesday, April 16, Justice Afia Serwah Asare-Botwe, the presiding judge, expressed concern about the state's prioritization of violent crimes over offenses committed by professionals, which she deemed more detrimental.

Meanwhile, the Deputy Attorney General, Alfred Tuah-Yeboah, has stated that his team is currently taking steps to extradite Sedina Tamakloe-Attionu to serve her sentence.

Martin Kpebu's call for asset seizure underscores the importance of recovering funds lost through corruption and financial malpractice.

Confiscating assets can serve as a deterrent to others and facilitate the restitution of misappropriated public funds.