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.