Richard Kumadoe, a well-known security consultant, has condemned the Microfinance and Small Loans Centre (MASLOC), labeling it a deceitful creation by politicians.
During his appearance on Morning Starr with Francis Abban, Kumadoe pointed out several problems plaguing MASLOC, such as its fraudulent framework, flawed disbursement methods, absence of a recovery strategy, and the lack of accountability and oversight.
After a court decision led by Justice Afia Serwah Asare-Botwe, Sedina Christine Tamakloe Attionu, the former Chief Executive Officer (CEO) of MASLOC, received a 10-year prison sentence, while Daniel Axim, the interdicted Head of Operations, received a five-year sentence.
Additionally, fines were imposed on both individuals.
Richard Kumadoe highlighted the need for the current MASLOC boss to pay attention to the sentencing of the former head of the entity.
He stressed that MASLOC is riddled with loopholes, describing it as a “political fraud entrapment” devised by politicians.
Kumadoe expressed concern that the current MASLOC boss should be apprehensive due to the deceptive structure and establishment orchestrated by politicians.
