Former MASLOC CEO Faces Verdict on GH¢90 Million Financial Loss Case
High Court in Accra to deliver judgment on the case involving former MASLOC CEO accused of causing GH¢90 million financial loss to the state.
The High Court in Accra is set to pronounce its judgment today in the high-profile case involving Sedina Tamakloe Attionu, the former Chief Executive Officer (CEO) of the Microfinance and Small Loans Centre (MASLOC), who stands accused of causing a staggering financial loss of GH¢90 million to the state.
Presided over by Justice Afia Serwah Asare Botwe, the court has diligently reviewed the extensive proceedings since the trial's inception. The case, which commenced with 78 counts against Attionu and Daniel Axim, former Operations Manager of MASLOC, includes charges ranging from conspiracy and stealing to money laundering and contravention of procurement regulations.
The prosecution alleges that Attionu and Axim misappropriated GH¢3.19 million from MASLOC funds, resulting in a significant financial setback to the state. Moreover, they purportedly made unauthorized commitments amounting to GH¢61.74 million, further exacerbating the financial irregularities.
Of notable concern is Attionu's absence during the trial, prompting the court to proceed in her absence following a granted application by the prosecution. Despite assurances of medical travel, Attionu has not returned since her departure, leading the court to address bail bond obligations imposed on her sureties, including former GNPC CEO Alex Mould and actor Gavivina Tamakloe.
The prosecution's case rests on meticulous investigations conducted by the Economic and Organised Crime Office (EOCO), revealing instances of fraudulent disbursements and mismanagement of MASLOC funds. One such instance involves an alleged investment of GH¢500,000 in Obaatanpa Micro-Finance Company Limited, orchestrated by Attionu, which ultimately saw the diversion of funds intended for investment into personal channels.
In light of these damning revelations, the court's judgment holds significant implications for accountability within public institutions and the safeguarding of state resources against financial malfeasance.
As stakeholders await the court's decision, the outcome of this case stands as a pivotal moment in the fight against corruption and financial impropriety, underscoring the imperative of robust oversight mechanisms and ethical governance practices.
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