Former MASLOC CEO sentenced to 10 years in prison for causing financial loss

Daniel Axim, former COO of MASLOC, has also been jailed for five years with hard labour.

They were found guilty on 78 counts, including causing financial loss to the state, theft, conspiracy to steal, money laundering, and causing loss to public property.

The trial, ongoing since 2019, saw six witnesses testify for the state.

Tamakloe was tried in absentia after leaving the country for medical reasons, while Axim testified in person but didn't call any witnesses.

The convictions stem from misappropriation of funds meant for MASLOC activities between 2013 and 2016.

One instance involved withdrawing GH¢500,000 as a loan for Obaatampa Savings and Loans, demanding a refund when the institution refused a 24% interest rate.

Although evidence of the refund existed, it wasn't reflected in MASLOC's accounts.

They were also found guilty of misappropriating over 1.7 million Ghana cedis earmarked for a sensitization exercise, dispersing only GH¢1,300 for the intended purpose.

Similarly, out of 1.4 million cedis meant for Kantamanso fire victims, only GH¢579,800 were disbursed, with the rest misappropriated.

The case also involved overpayments for vehicle and Samsung phone purchases, with the amounts exceeding market prices at the time despite being bought in bulk.