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SFO lays 50 fraud charges against Allan Hubbard

Monday 20th of June 2011

SFO Chief Executive, Adam Feeley, said, "After an exhaustive investigation, we have concluded that there is sufficient evidence to lay fraud charges against Mr Hubbard."

Feeley said that fifty charges under sections 220, 242 and 260 of the Crimes Act had been laid today in the District Court in Timaru.

The SFO said it did not intend to lay charges against any other current or former director of ASL. Nor were any other charges being contemplated by the other agencies involved with the investigations into ASL or HMF.

Feeley said that the investigation had relied on assistance from the Securities Commission (and now the FMA) and the Registrar of Companies.

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