Allan Hubbard, the man at the centre of the South Canterbury Finance collapse, has died after a head-on car crash near near Oamauru yesterday afternoon, The Timaru Herald has reported.
Timaru police confirmed to BusinessDesk late on Friday that the Hubbards were in a car which collided head-on with a ute on State Highway 1 at Richmond.
Allan Hubbard, 83, died while being flown to Dunedin Hospital by helicopter, while his wife Jean was taken away by ambulance with fractures, The Timaru Herald and the New Zealand Herald reported.
They reported she was driving and that the driver of the ute, Andy Earl, had been discharged from Oamaru hospital with cuts and bruises.
Hubbard, 83, a pillar of the community in Timaru, was facing 50 charges laid by the Serious Fraud Office after he and his 82 year-old wife, Jean, were placed under statutory management by the government.
They were to have appeared in court next week to appeal the move.
(BusinessDesk and reports)
(Updated with Allan Hubbard's reported death)