Accra: The Court of Appeal has acquitted Sedinam Ationu Tamakloe, the former Chief Executive Officer of the Microfinance and Small Loans Centre (MASLOC), overturning her previous conviction and 10-year prison sentence. The appellate court's decision nullified the High Court's judgment from April 16, 2024, asserting that the prosecution did not establish the essential elements of the charges beyond a reasonable doubt.
According to Ghana News Agency, Ms. Tamakloe had faced charges of conspiracy, stealing, and wilfully causing financial loss to the State, involving more than GHS90 million during her tenure as MASLOC's Chief Executive Officer. Her conviction led to a 10-year prison sentence in absentia by the High Court.
Ms. Tamakloe was recently extradited to Ghana following the High Court proceedings. Alongside her, Daniel Axim, the former Chief Operating Officer of MASLOC, was sentenced to five years' imprisonment by the High Court. He is currently on bail awaiting the outcome of his appeal.
Mr. Enoch Deegbe, counsel for Ms. Tamakloe, expressed satisfaction with the Court of Appeal's decision, agreeing with the defence's argument that the charges against his client were defective. He mentioned his intention to inform Ms. Tamakloe, who remains in prison, about the court's ruling.