SFO to investigate Hubbards
Simon Power
Wellington, June 20 NZPA - South Canterbury millionaire financier Allan Hubbard and his wife, Margaret, are being investigated by the Serious Fraud Office (SFO), Commerce Minister Simon Power announced today.
The SFO will investigate the Hubbards, Aorangi Securities and seven charitable trusts for possible breaches of the Crimes Act. All have all have all been placed under statutory management.
South Canterbury Finance, with which the elderly Mr Hubbard was closely associated, was not part of the statutory management order, Mr Power said.
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