Allan Hubbard lashes out at critics, saying he would be seen as a hero if he had splashed out on flash cars and houses. Your view?
Former South Canterbury Finance owner Allan Hubbard, who is being investigated by the Serious Fraud Office over the "complex intermingling" of his financial affairs, has attacked his critics and the Statutory Managers who now control his affairs.
He described how he felt persecuted by his critics because he had departed from normal practices.
"I have got a lot of satisfaction and happiness from all the help I have given many people over many years," Hubbard told The NZ Farmers Weekly in an interview.
"But I am a bastard for doing that. If I had wasted my money on flash cars and houses, I would be a hero. New Zealand doesn't like anybody that departs from the norm," he was reported as saying.
Hubbard also criticised the Statutory Managers Trevor Thornton and Richard Simpson of Grant Thornton as brainless, and that any issues at Aorangi Securities and Hubbard Management Funds had been blown out of proportion.
They needed to talk to him to understand the situation, he said.
"That is blown out of all proportion and until they (statutory managers) get the answers from the right person (Hubbard himself) then this confusion will just continue," he said.
"The problem with the statutory managers is there is nobody with the brains to understand," he said.
The third report from the Statutory Managers was damning in its criticisms of the way Hubbard had run the funds and his financial affairs, detailing new losses, miserly returns, undocumented loans, interest free loans, related party loans and sweetheart rental deals.
10 Comments
This was NOT WRITTEN BY ME but it gives you another angle on this story above ..pulled it down from another site:
Hubbard is 100% Correct
The Strategic Finance and Hanover Finance directors and consultants all fleeced their investors and bought/built houses in Paratai Drive and Cremorne Rd Herne Bay etc and still live there and drive flash cars.
Hubbard has been set up by Forsyth Barr and the establishment ( Blue bloods ) and next move will be that Heartland bank will end up with SCF for nothing ( apart from having to fund the book )
This is fraud of the first degree - not by Hubbard by the Government and Forsyth Barr - supported by George Kerr and the South island mafia. They should all be charged with theft from Hubbard - not the other way around.
And David Hillary should be put down for good for his efforts to destroy Hubbard"
Man. you don't wanna tangle with those S.Islanders...mind you I agree about david hillary..he was driving his own weird agenda all the way!
"Allan Hubbard lashes out at critics, saying he would be seen as a hero if he had splashed out on flash cars and houses"
Excuse me?? Warren Buffet (similar age to Hubbard) has never splashed out on flash cars and houses and he's seen as a hero, and a much bigger one than Hubbard will ever be. So what grandiose twaddle is Hubbard ranting on about now? If that's a sign of Hubbard's mindset and judgement no wonder SCF crashed and burned.
And let's not forget the difference between Hubbard and Buffet too. Billions! And Buffett’s management hasn't required the US taxpayer to be touched up for it either!
Yea right.
http://www.mcclatchydc.com/2009/04/05/65496/buffett-champion-of-bailout…
He's also referred to derivatives and weapons of mass financial destruction http://www.fintools.com/docs/Warren%20Buffet%20on%20Derivatives.pdf but to survive he has had to join the dark side.
He's also owns part of Moodys and ratings agencies are part of the fraudulent system of repackaging debt to make it into something it isn't.
Correct. Buffet is not all the saint he is portrayed to be in the media. He invested in Goldman Sucks and to protect and grow it he influenced successive US governments to do the bailout of big banks and he has benefited immensely. Also he owns a large chunk of Moodys which is equally responsible for bringing the sub-prime crisis on. Who knows what other skeletons are there in Buffet's cupboard or should I say dining table ?
Now you really are showing your age and vulnerable mental state, Allan. Better to keep quiet and preserve what dignity you have left. Keep making comments like this and its not just those who distrust you who will have their preconceptions about you reinforced. Those like me who have carried respect for your honesty, good intentions and nous will be shaking their heads as well.
i agree exactly with you Wayne..i also felt he deserved respect etc until the facts emerged and now i think he should stop acting like a lost cult leader, still raving at his few remaining disciples and just bow out with some dignity.
at the end of the day he's still perceived as an honest man and a staunch southerner but he's starting to act like a dinosaur that doesn't seem to know that it's extinct....and that's partly 'cos his small band of acolytes won't leave him in peace and keep activating his remaining hubris by insisting he's actually a misunderstood St. Allan of Timaru !
do the guy a favour...let him be..stop asking for quotes..he's done his time and "lost" but still has a modicum of urban legend respect..leave him with that all you bloody Aorangi-ites!
Go chase some money or something>>>>>>here>>>> catch!
the conspiracy theories continue--comparisons with third Reich policy's are stretching reality just a tad---humility would appear to be lacking
http://www.stuff.co.nz/timaru-herald/news/4240193/Aorangi-wasn-t-insolvent-SCF-should-have-sold
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