Hanover Finance co-owner Eric Watson is still in the frame of a Securities Commission investigation that this week invoked unprecedented powers to freeze the assets of his business partner Mark Hotchin.

And the commission has said it will use international agreements to pursue people overseas if necessary.

White collar crime fighter, the Serious Fraud Office (SFO), has rounded out a busy week with the launch of another finance company investigation – this time into failed Gisborne financier Rockforte Finance.

Rockforte, fell into receivership in May, owing $3,250,000 to 77 investors.

Because it was a participant in the Crown Retail Deposit Guarantee Scheme, investors will see the money repaid.

Two more trusts set up by Allan Hubbard have been placed into statutory management this evening.

The trusts are Temple Bar Family Trust, established in 1983 by Mr Hubbard and Barns Charitable Trust, established in March this year.

The move follows a report to the Securities Commission from statutory managers investigating Mr Hubbard’s leading lending vehicle Aorangi Securities – put into statutory management along with Mr Hubbard and his wife Margaret and seven charitable trusts, on June 20.