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

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Pulse-gh April 16, 2024 2:59 p.m.

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

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.

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.

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.

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..

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