Nasfund man pleads not guilty in fraud case

AN officer from Nasfund appeared at the Waigani Committal Court yesterday charged with conspiracy to defraud.
Chief investment officer David Brown, 52, from Victoria in Australia, appeared before Magistrate Mekeo Gauli. He pleaded not guilty to the charge.
Magistrate Gauli ordered Brown not to leave the county and to surrender his passport to the court registry by 4pm yesterday.
The case has been adjourned to Sept 4. The court heard that the conspiracy allegation related to the appointment of an officer of Bank South Pacific Capital as the licensed investment manager of Pacific Balance Fund.