News trooping in have it that former Chief Executive Officer, CEO of Microfinance and Small Loans Centre(MASLOC), Sedina Tamakloe has been sentenced to 10 years in prison with hard labour.

Similarly, former Chief Operating Officer of the the centre, MASLOC, Daniel Axim has also been jailed for five years with hard labour.

They were both found guilty on 78 counts of causing financial loss to the state, stealing, conspiracy to steal, money laundering, and causing loss to public property in contravention of public procurement law.

The two have been on trial since 2019. The state called six witnesses in all while the first accused person Sedina Tamakloe was tried in absentia as she absconded after obtaining the permission of the court to seek a medical checkup outside the country. The second accused person, however, testified in person but did not call any witnesses.

But five years there after, they have been found guilty as pronounced by the court, which they would be thrown into cells in hard labour.

Establised in 2006, MASLOC is a public institution mandated to providing Microcredit and Small Loans to start- ups and small businesses with fast, easy and accessibility Microcredit and Small loans to grow and expand their businesses.

MASLOC services are particularly expected to be accessible to women as a means to empowering them by positively influencing women' s decision- making power and enhancing their overall socio- economic status. The institution is always led by women.