Supporters of embattled financier Alan Hubbard are to lay a complaint with the Ombudsman about the Serious Fraud Office (SFO) investigation into some of his business interests.
Mr Hubbard and his wife have been placed under statutory management, along with Aorangi Securities and several trusts, as the SFO investigates what it says are irregularities in Aorangi's loans.
The move to place the Hubbards and their interests under statutory management was made on advice from the Securities Commission.
A supporter of Mr Hubbard, Paul Carruthers, is calling for more investigation into a potential conflict of interest involving Securities Commission member Simon Botherway.
He says Mr Botherway should be stood down after he revealed a company belonging to his brother was put into receivership by Mr Hubbard's firm South Canterbury Finance.
Mr Carruthers says there are three other signatories to his complaint.
Last month, the commission said it was satisfied that Simon Botherway's connection to South Canterbury Finance does not create a conflict of interest in relation to Mr Hubbard, his wife, or the other entities now under statutory management.
South Canterbury Finance is not under statutory management.
