ClearView Wealth (ASX:CVW) says the criminal charge laid against Independent Non-Executive Director, David Brown has been dropped.
Brown was arrested in Papua New Guinea in August 2018 over a claim by the Melanesian Trustee Services.
The claim concerned an alleged attempt to remove and replace the current fund manager of the Pacific Balanced Fund by Brown’s employer National Superannuation Fund.
Brown is the chief investment officer of the National Superannuation Fund Ltd (NASFUND) in Papua New Guinea.
Shares in ClearView Wealth Limited (ASX:CVW) last traded at $0.90.