Sedinam Tamakloe, former CEO of MASLOC, and Daniel Axim, former Chief Operating Officer, have been sentenced to 10 years and 5 years in prison respectively, with hard labor.
They were convicted on 78 charges including causing financial loss to the state, theft, conspiracy to steal, money laundering, and violating public procurement laws.
The trial of the two individuals began in 2019, with the state presenting six witnesses. Sedinam Tamakloe, the first accused, was tried in absentia after leaving the country for a medical checkup with court permission. Daniel Axim, the second accused, testified in person but did not present any witnesses.
The charges against them relate to the misuse of funds intended for MASLOC activities from 2013 to 2016. One instance involved withdrawing GHc 500,000 as a loan for Obaatampa Savings and Loans company, demanding a refund when the institution refused a 24% interest rate. Although evidence showed a refund, it wasn’t reflected in MASLOC’s accounts.
They were also found guilty of misappropriating over 1.7 million Ghana cedis meant for a sensitization exercise, with only a fraction spent as intended. Similarly, funds meant for victims of a fire in Kantamanso were misappropriated, with only a portion distributed to the victims.
The case also involved the purchase of vehicles and Samsung phones for MASLOC, with evidence suggesting inflated prices compared to market rates at the time of purchase.