August 1, 2018 / 8:17 AM / 3 months ago

UPDATE 1-Australia's ClearView Wealth says director arrested in Papua New Guinea

(Adds background on director)

Aug 1 (Reuters) - Australia’s ClearView Wealth Ltd, a wealth management product provider, said on Wednesday it was informed that Independent Non-Executive Director David Brown was arrested in Papua New Guinea (PNG).

Brown was arrested and charged with one count of conspiracy to defraud under the Criminal Code 1974 (Papua New Guinea) by the National Fraud & Anti-Corruption Directorate of the Royal Papua New Guinea Constabulary on Monday, the firm said in a statement.

ClearView added it would provide updates when possible about the situation of Brown, who is the chief investment officer of the National Superannuation Fund Ltd (NASFUND) in PNG.

The police of PNG’s capital Port Moresby and NASFUND, a successor to the National Provident Fund, were not immediately available for comment. (Reporting by Aaron Saldanha in Bengaluru and Byron Kaye in Sydney; Editing by Muralikumar Anantharaman)

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