Melanesian Trustee Services Limited (MTSL)

The PBF is one of the country’s largest equity funds that is owned by nearly 20,000-unit holders.

Chairman of SCPNG, James Joshua, stated that investigations on the performance on MTSL commenced on the 29^th of June, 2023 and several breaches of MTSL’s fiduciary duty to unit holder that had been identified.

On Friday January 11^th 2019, the Committal Court dismissed the charges after a credible case could not be produced against Brown when first charged in July 2018. 

In a statement NASFUND Board Chairman, Hulala Tokome, said in the process of defending an obviously spurious charge, Brown and his family have endured prolonged stress, not to mention, the considerable disruption to the ordinary business of NASFUND.