Lawrence Stephens, Jerry Singirok, and Peter Mase, directors of MTSL, have been acquitted by the National Court of charges related to operating Pacific Balance Fund’s subsidiaries after its license was revoked. The court determined the state failed to demonstrate that fund management activities continued illegally following the cancellation. This ruling represents a significant win for the three individuals involved in the case. The acquittal centers on the prosecution's inability to prove ongoing illicit operation of the fund’s entities. Details of the case were reported by the Post Courier. The directors are now free of all charges related to this matter. Access to the full report requires a subscription to the Post Courier.