Allan Hubbard's achievements on behalf of the agricultural industry have been heralded at a rally in Timaru on Friday to show support for the embattled businessman.
The Serious Fraud Office has launched an investigation into Mr Hubbard's investment firm, Aorangi Securities.
The Government has also placed the South Island's richest man under statutory management, along with his wife, Jean Hubbard, Aorangi Securities and several trusts.
About 500 people gathered in Mr Hubbard's home town to call the action hasty and unjustified.
Speakers told the crowd that farmers have Mr Hubbard to thank for lower fertiliser prices and for the success of South Canterbury's Opuha Dam irrigation scheme.
Supporters also sang For He's A Jolly Good Fellow.
Rally organiser Mike Cotton was among those spoke about Mr Hubbard and his wife's generosity to businesspeople and charities.
Another supporter of the Hubbards, Albert Makary, said an investigation was reasonable, but humiliation was not.
