By Meriba Tulo – EMTV News, Port Moresby
The Waigani District Court recently cleared the Chief Investment Officer of National Superannuation Fund, NASFUND.
Mr Brown had been charged by the Police Fraud Squad in July 2018, following NASFUND’s request to look into the accounts of one of its investments.
According to the Super Fund, these charges were false, with prosecutors failing to produce a credible case against the fund’s Chief Investment Officer.
In a statement, NASFUND Chairman Hulala Tokome, said the Court’s decision recognizes the good governance and regulatory obligations within the superannuation industry, and those entrusted to look after employee savings and investments.
With this issue now put to rest, Chairman Tokome said the fund would now look to concentrate on the bigger issue of looking after the interests of its members throughout the country.