The Financial and Economic Court 2 of the Accra High Court on April 16 sentenced the former CEO of Microfinance and Small Loans Centre (MASLOC), Sedina Christine Tamakloe Attionu, to 10 years in imprisonment.
The Director of Operations of the organisation, Daniel Axim, was also granted a 5-year jail term.
Here is what the judge had to say:
In sentencing Accused 2 (A2) who is present, I have borne in mind that Accused I (Al) who is the main architect of this ignoble enterprise has managed to evade justice up to this point.
I have also noted that the Republic has done nothing, to the knowledge of this Court, to take advantage of international co-operation to bring her to justice.
A2 has to take the fall for A1 by his presence. That said, however, I do not want to set a bad precedent by ignoring the fact that certain classes of public and civil servants are gatekeepers and can help safeguard the public purse if they do their work faithfully.
The sentence against the accused persons also takes cognizance of the quantum of funds lost, the deliberation and enterprise with which the offences were committed and the fact that this type of white-collar crime is in the experience of this Court one too many.
The Court will therefore, to curtail crimes of this nature, hand down a deterrent sentence to deter would-be professional criminals from copying the actions of the accused.
- Counts 1, 2,3,4, 15, 24, 25, 26,27, 28, 29 30, 31, 32, 33 34 and 35- on the charge of Stealing against A1 (Sedina Tamakloe).
- Counts 5, 4, 9, 11,13, 16, 20 and 2- on the charge of Conspiracy to Steal against A1 and A2;
- Counts 6,7;8,10, 12, 14, 17, 18, 19, 21 and 23 on the Charge of conspiracy to steal and Stealing Against A1 and A2; Al is sentenced to 10 years (In hard labour). A2 is sentenced to 5 years (In hard labour). On the charges related to the offence of causing financial loss to the state and its inchoate.
- On counts 36, 37, 38, 39, 40, 41, 42, 46, 47, and 64:- on the charge of Wilfully Causing Financial Loss To The State Against A1.
- On counts 43, 45, 48, 52, 54, 56, 58, 60, 61, 62, 65 and 67-: on the charge of Conspiracy to Wilfully Cause Financial Loss to the State against A1 and A2.
- On counts 44, 46, 51, 53, 55, 57, 59, 63, 66 and 68 on the charge of Wilfully Causing Financial Loss to the State against Al and A2. A1 is sentenced to a term of imprisonment of three years and a fine of three thousand penalty units or in default an additional two years in hard labour. A2 is sentenced to a term of twelve months and a fine of one thousand penalty units or in default another 12 months.
- Counts 69,70 and 71 on Causing Loss to Public Property against Al. Al is sentenced to a custodial sentence of two years Lhl and to pay a fine of 500 penalty units or in default 12 months imprisonment.
- Counts 72 and 73 on Improper Payment of Public Funds against A1. A1 is sentenced to a custodial sentence of six months on both counts.
- Count 74- Unauthorised Commitment Resulting in Financial Obligation for the Government against A1. A1is sentenced to a custodial sentence of six months.
- Counts 75 and 78 on the charge of Money Laundering against A1.
- Counts 76 and 77 on the charge of Money Laundering against A1 and A2. A1 to three years IHL and two thousand penalty units or in default another two years. A2 to two years lHL and five hundred penalty units or in default 12 months.
- Counts 79 and 80 on Contravention of the Public Procurement Act against A1: A1 is sentenced to two years and a fine of one thousand penalty units or in default another twelve months imprisonment.
The sentences are to run concurrently.
The Prosecution is directed to undertake forfeiture proceedings against the assets of the Al in particular who received substantially all the money lost to the State.
Please read full judgement here.