The Court of Appeal has unanimously acquitted and discharged former Chief Executive Officer of the Microfinance and Small Loans Centre (MASLOC), Sedina Tamakloe-Attionu, overturning her conviction and 10-year custodial sentence after ruling that the prosecution failed to prove its case beyond reasonable doubt.
The unanimous decision was delivered on Thursday by a three-member panel comprising Justices Emmanuel Ankamah, Emmanuel Senyo Amedahe and Samuel Obeng-Diawuo.
In setting aside the High Court’s judgment, the appellate court held that the evidence presented by the prosecution fell short of the legal threshold required to sustain the convictions.
The court also criticised the approach adopted during the trial, stating that the trial judge had lost sight of the constitutional principle that every accused person is presumed innocent until proven guilty. It further raised concerns about the manner in which the prosecution handled the case.
The Court of Appeal said the full reasons for its decision are contained in a 94-page judgment, which is expected to be made available before the close of business on Thursday.
Tamakloe-Attionu was convicted by the High Court in April 2024 following a trial that began in January 2019. She was sentenced to 10 years’ imprisonment after being found guilty on multiple charges linked to her tenure as MASLOC Chief Executive.
The former MASLOC boss had faced 78 counts, including stealing, conspiracy to steal, wilfully causing financial loss to the state, causing loss to public property, improper payment of public funds, unauthorised commitment and money laundering.
The prosecution, led by then Attorney-General Godfred Yeboah Dame and based largely on investigations by the Economic and Organised Crime Office (EOCO), alleged that she misappropriated public funds through several MASLOC programmes.
Among the allegations were the diversion of a GH¢500,000 loan intended for Obaatanpa Microfinance after the institution declined the facility over its interest rate, the alleged misuse of funds allocated for MASLOC sensitisation programmes, the diversion of relief funds meant for victims of the Kantamanto Market fire, and inflated procurement of vehicles and mobile phones.
During the trial, the prosecution called seven witnesses and relied heavily on a forensic audit report in support of its case.
Tamakloe-Attionu appealed the conviction, arguing that the charges were fundamentally defective and that the prosecution had failed to establish the offences beyond reasonable doubt. Her appeal also challenged the legality of her trial and sentencing in absentia.
She had travelled to the United States in 2021 with the High Court’s permission to seek medical treatment while the trial was ongoing but failed to return.
After being extradited to Ghana on June 9, 2026, she began serving her 10-year sentence at the Nsawam Medium Security Female Prison on June 24, 2026.
Thursday’s ruling overturns the decision of the High Court presided over by Justice Afia Serwaa Asare Botwe and brings an end to the criminal convictions against the former MASLOC Chief Executive, with the Court of Appeal ordering that she be acquitted and discharged of all charges.
