Manx Telecom, the listed telecoms operator on the Isle of Man, has suspended its chief financial officer Danny Bakhshi after it was informed that he was the subject of criminal proceedings unrelated to his job.
A clerk for the Isle of Man court of justice told the Financial Times that Junaid Danyal Bakhshi, 50, appeared before the deputy high bailiff on Tuesday after being charged with being unlawfully concerned in the production of a Class B substance.
He pleaded not guilty to the charge and was bailed until October 3.
Mr Bakhshi was charged after a quantity of cannabis allegedly worth almost £200 arrived in the Isle of Man from Amsterdam. A customs official intercepted the parcel. Mr Bakhshi was subsequently arrested.
Mr Bakhshi did not immediately return a request for comment. Manx Telecom has launched an internal investigation.