Executive Fraud: MASLOC Boss Stripped Pants Down In Multiple Furtive Deals - Part 2

MASLOC Chief Executive Officer, (CEO ) Madam Bertha Sogah

Your authoritative ModernGhana continues its espionage in the exposé of grand furtive deals believed to have been masterminded by Mrs. Bertha Sogah, Chief Executive Officer at the Microfinance And Small Loans Centre (MASLOC).

In part two of the many more stories to come, the confidential documents in the possession of ModernGhana further reveal that what makes the diversion of funds by the CEO into the Account of AMISGOLD MICROFINANCE SERVICE LTD., more fraudulent is the fact that the quantum of the funds (GH₵500,000) which was diverted is way too high than the MASLOC Loan Limit of GH₵10,000 which is usually granted one single individual or an entity.

Placement Of Funds Into Banks Or Private Companies:

Sleuth Checks by ModernGhana have also showed that again, Mrs. Bertha Sogah used a fraudulent method termed 'Placement' to allocate bulk amounts of money to her preferred Banks or Companies.

Under these arrangements, the selected companies receive cash from MASLOC at an agreed rate of interest, but instead of paying the agreed interest on the monies given to them officially by MASLOC, the CEO playing the role of a typical local 'Susu Collector' personally goes round collecting the interest herself in cash personally from the banks or companies.

This became evident when the MASLOC CEO placed another whopping sum of GH₵10,000,000 (Ten Million Ghana Cedis) of MASLOC funds into EM Capital Fixed Deposits, a stock-broking and securities company.

Two ADB Cheques with the numbers 359738 dated 13/09/2012 and 730901 dated 20/09/2012 which had GH₵5,000,000 (Five Million Ghana Cedis) each on them were issued to carry out these transactions to EM Capital Fixed Deposits.

Investigations conducted after these transactions in three months time which was around December 2012, also revealed that EM Capital on the 8th of December 2012 paid back GH₵5,000,000 (Five Million Ghana Cedis without the due corresponding interest hence there was no justification for the non-payment of interest on the so-called 3-months investment made.

“The MASLOC CEO is fast becoming a hardened executive serial fraudster and the earlier she is dealt with, the better it will be for the interest of mother Ghana,” a concerned source close to MASLOC told ModernGhana.

Stay Glued To ModernGhana For Part 3 Of Many Of These Grand Executive Fraud Executed By The MASLOC Boss Which Is Just For Your Eyes Only!