The Waigani District Court of Port Moresby, concerning the criminal charge laid against NASFUND Chief Investment Officer, Mr. David Brown,on 30th July 2018 was dismissed following six months of repeated failure to produce a credible case against him.

In the process of defending an obviously spurious charge, Mr. Brown and his family have endured prolonged distress, not to mention the considerable disruption to the ordinary business of NASFUND.

The NASFUND Board is pleased with the Court’s ruling, justice has prevailed, and David Brown’s professional reputation is restored.

Importantly, the court’s decision recognizes the good governance and regulatory obligations of the Superannuation Industry in PNG and those entrusted to implement the same.

With this matter put to rest, we can now move on and concentrate on the bigger issues of looking after the interests of our members.

Media Release
January 14, 2019