Allan Hubbard calls for inquiry into SFO - full interview

22 Jul 2010 06:02p.m.

john cooper wrote:

Where were the sfo when numerous (100s) of complaints were made about the likes of bridgecorp etc way before any of the rotten finance companies failed.
Now with one...just one complaint about this man they put him under statutory management on a sunday.
They will crucify this man so they can look like they have earned their keep........they have not,they have failed over many years to get off their backsides and act.
Shame on them and Simon Power who in spite of having evidence put under his nose of the complete failure of the sfo still will not let justice be done.

19 Jul 2010 07:20p.m.

Bobby2010 wrote:

SFO with its high handed manner of dealing with the Hubbards shouldnt be given a break. They should sacked en mass !!!

19 Jul 2010 12:12p.m.

john wrote:

People need to stop having a go at the SFO, Hubbard is in pretty deep right up to his neck. he has kept all these records in his head and millions of dollars are unaccountable. Many people will be out of pocket after this investigation is complete. He is confused as to were all the money has gone? Give the SFO a break and wake up NZ hes been operating a company without any records, when has that been legal?

19 Jul 2010 11:04a.m.

carlos wrote:

Did he loan money to 'crafar' ?

19 Jul 2010 06:02a.m.

Bobby2010 wrote:

After 4 weeks, SFO still hasnt charged Mr Hubbard for any crimes except some comments about poor book keeping. And what does that Blue Chip Swindler gets for poor book keeping? Some community service and a miniscule fine adjudicated by a Judge. Yes proven case !!! Yet why hasnt SFO put him under statutory management? Double standard? This bunch of SFO investigators are nothing but a resurrection of the Gestapos!!! They should be given the marching orders !!!

18 Jul 2010 02:40p.m.

V wrote:

Agreed, that being said it amazes me "where does the money go" disappears?, hardly, "prostitutes "yeah right?, transferred away to secret bank accounts and LEGAL untouchables? more likely. I prefer the Chinese justice in these cases "the head chop" does wonders for copy cats.

18 Jul 2010 11:32a.m.

simon wrote:

No argument with that V and I am afraid that longterm Mr Hubard will be found to be little better than them

SCF is only afloat because it has the govt gurantee, would have gone the same way long ago as Hanover etc and its loan book would have been little better.

His private finance company breaks every rule in the book, anyone else runnig it like that would have closed down and locked up years ago.

Mr Hubbard has been giving away investors money to charity that is not his and long term u may find that he has been runing little more than a Ponzi scheme using investors money to pay interest.

Over $106m of $136m funds from his private finance company was lent to himself often at no interest, there is little paperwork and banks often have mges on the same properties.

As Lightseed says if he dies good luck sorting it out, however I doubt it will ever be sorted out, the records are all inside the heads of a sad old couple who are out of touch with reality.

That lack of reality is shared by their investors who are of course in denial, there is just no way the investors will ever get back 100 cents in the dollar.

History will judge Hubbard and I think it might find him closer to Maddoff than the saint many think he is.

18 Jul 2010 11:20a.m.

carlos wrote:

Time to withdraw all your money, timaru people ! Don't wait for the 15 cents in the dollar outcome !

17 Jul 2010 10:24a.m.

V wrote:

All I see from the SFO on Hanover, Blue-chip and the likes is Nothing, So its ok to lie and cheat, they should rename it to SFA.

17 Jul 2010 08:16a.m.

Lightseed wrote:

Do you actually know what you are talking about V? the records this man keeps are awful. Even after this amount of time those who have taken control are unable to find large amounts of records of investments, have found an unknown hubbard company worth $80 million. Thankfully this was investigated before he died and people were left not knowing where any of their money was. the corruption seems to be in the fairy tale conspiracy mind you have. only 500 people marched in support of this man, there are a lot of people in timaru who support this investigation.