SFO confirms Hubbard charges dropped
SFO chief executive Adam Feeley has confirmed that criminal proceedings against Mr Hubbard "can no longer continue" following the Timaru financier's death after a car crash on Friday.
The Serious Fraud Office has dropped its charges against the late Allan Hubbard.
SFO chief executive Adam Feeley confirmed that the criminal proceedings against Mr Hubbard "can no longer continue" following the Timaru financier's death after a car crash on Friday.
He said the SFO would contact the District Court to take the necessary steps to bring the prosecution to an end.
Mr Feeley made no further commetn saying "it would not be appropriate for the Office to comment further at this time."
Mr Hubbard was charged with 50 counts of fraud on June 20 after a year-long investigation by the SFO into Aorangi Securities and Hubbard Management Funds.
The SFO charges related to theft by a person in a special relationship, false statement by a promoter and false accounting. Mr Hubbard's lawyers had indicated the 83-year-old would fight the charges.
NBR staff
Mon, 05 Sep 2011
Mon, 05 Sep 2011
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SFO confirms Hubbard charges dropped
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