Court acquits PNG NASUFUND Executive

The Chief Investment Manager with the National Superannuation Fund, David Brown, has been freed by the Waigani District Court of charges against him.

Mr Brown was arrested and charged in July last year, over allegations of being involved in a conspiracy to defraud the NasFund.

He was arrested and locked up at the Boroko Police Station, following a complaint by the Melanesian Trustee Services Limited, and was later released on bail.

In a statement, NASFUND's Chairman, Hulala Tokome said they are grateful the charges have been finally dismissed after a lengthy delay, and they are happy to have Mr Brown back to serve on the fund.

District Court Magistrate Mekeo Gauli dismissed the case after police failed to put together a credible case against Mr Brown for more than six months.  NBC News/ PNG Today