The Serious Fraud Office has announced that it is dropping the fraud charges against failed financier Allan Hubbard.
Mr Hubbard, who was 83, died following a car crash just north of Oamaru on Friday.
He had been due in court in October to answer 50 charges of fraud laid by the SFO, following an investigation into failed companies he ran.
The SFO's chief executive, Adam Feeley, says criminal proceedings against Mr Hubbard can no longer continue.
He says the Office will now contact the District Court to take the necessary steps to bring the prosecution to an end.
Statutory management
Meanwhile, the Prime Minister, John Key, says he does not expect any decision on whether to release Mr Hubbard's widow Jean from statutory management until early next week.
The couple has been under statutory management since June last year, along with seven charitable trusts, Aorangi Securities, and later, Hubbard Management Funds.
Mrs Hubbard is in Dunedin Hospital following the Friday crash that led to her husband's death.
Mr Key said the Government was making sure any funeral costs and related expenses were met and also wanted to give the family "space and time".
He said, as a result, he was not expecting a decision to be made on removing Mrs Hubbard from statutory management this week but expected it to be announced early next week.
