24 Jun 2010

Public support shown for embattled Hubbard

12:18 pm on 24 June 2010

Hundreds of people have expressed support support for Timaru businessman, Allan Hubbard, whose investment company is being investigated by the Serious Fraud Office

Two Facebook pages set up to support Mr Hubbard have about 1500 members.

The owner of a Taupo helicopter business, John Funnell, arranged a large advertisement supporting Mr Hubbard in The Press newspaper, and set up one of the Facebook pages.

Mr Funnell says Mr Hubbard is a man of great integrity and he'll be aghast if the SFO investigation reveals anything more than minor breaches of some legislation.

Timaru mechanic Rob Clarke created the other Facebook page because he believes Mr Hubbard has been persecuted.

The Government on Sunday put the businessman and his wife Margaret Hubbard under statutory management along with investment firm Aorangi Securities and several trusts.

The SFO confirmed this week it was investigating Aorangi Securities after reviewing a Companies Office report that found irregularities among Aorangi's $134 million in loans.

Alan Hubbard has said he has documentation to prove he has complied with the rules.

South Canterbury Finance, owned by Mr Hubbard, is not included in the moves.