Court set to give judgment on case involving former MASLOC boss, others

The High Court in Accra will deliver its verdict in the case involving Sedina Tamakloe Attionu, a former Chief Executive Officer (CEO) of the Microfinance and Small Loans Centre (MASLOC), who stands accused of causing a financial loss of GH¢90 million to the state, on Tuesday, April 16, 2024.

During the previous session on February 27, Justice Afia Serwah Asare Botwe, presiding over the court, instructed both the prosecution and the defence to submit their written arguments by March 22.

Attionu and Daniel Axim, a former Operations Manager of MASLOC, are facing 78 charges, including conspiracy, theft, unauthorized financial commitments on behalf of the government, improper payments, money laundering, and violations of the Public Procurement Act.

The prosecution alleges that the defendants embezzled GH¢3.19 million during their tenure at MASLOC and caused a deliberate financial loss of GH¢1.97 million to the state. Additionally, they are accused of making unauthorized commitments, resulting in financial obligations totalling GH¢61.74 million for the government.

Furthermore, the charges include GH¢22.15 million in public property loss, improper payment of GH¢273,743, and laundering of GH¢3.7 million.

In a significant development, the court granted the prosecution's request to proceed with the trial in the absence of Attionu on February 24, 2023. This decision came after Attionu was permitted to travel to the United States in 2021 for medical treatment but failed to return, as a report by graphic.com.gh said.

Before the trial in absentia, on January 24, 2023, the court ordered former Ghana National Petroleum Corporation (GNPC) CEO Alex Mould and actor Gavivina Tamakloe to pay a GH¢5 million bail bond to the state due to their inability to produce Attionu for whom they acted as sureties.

According to the prosecution's account, in 2017, the Economic and Organised Crime Office (EOCO) investigated fraudulent disbursements of MASLOC funds involving Attionu and Axim.

The investigations revealed that in June 2014, MASLOC invested GH¢150,000 in Obaatanpa Micro-Finance Company Limited, a licensed Tier II microfinance company in Ejura, Ashanti Region.

Attionu subsequently offered an additional GH¢500,000 investment to Obaatanpa, leading to the issuance of a MASLOC Agricultural Development Bank (ADB) cheque worth GH¢500,000 to Obaatanpa on July 24, 2014.

Upon receipt of the cheque, Attionu allegedly demanded a 24% interest rate from Obaatanpa. When Obaatanpa refused, Attionu demanded a cash refund. Obaatanpa obliged, returning GH¢500,000 in cash to Attionu on August 28, 2014.

Despite acknowledging receipt of the refunded sum in a letter dated August 28, 2014, investigations revealed that MASLOC had no repayment record. It was alleged that Attionu appropriated the GH¢500,000 for personal use.

Additionally, in 2015, MASLOC demanded interest payment on the principal investment from Obaatanpa despite the earlier refund. Subsequent investigations showed discrepancies, suggesting Attionu's misappropriation of funds.

NAY/AE

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