Post: Charges against former credit union CEO withdrawn

The Commonwealth Director of Public Prosecutions (CDPP) has withdrawn its charges against Peter Challis, the former Chief Executive Officer of WAW Credit Union Co-Operative Limited (CEO).

Following an ASIC investigation, Mr Challis was charged with one count of failing to discharge his duties in good faith in the best interests of a corporation (refer 18-309MR).

The withdrawal of charges occurred after Judge Leighfield of the County Court of Victoria found, in a pre-trial ruling, that Mr Challis did not have a relevant duty at law in the circumstances of this case.

In light of the ruling, the Crown filed a nolle prosequi and Mr Challis was discharged by the judge.

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