New Zealand’s recently overhauled Serious Fraud Office has shown its intent to tackle white collar crime, launching an investigation into one of the country’s wealthiest businessmen.
The SFO has started to probe the affairs of Allan Hubbard related to his Aorangi Securities mortgage company and seven charitable trusts. The government has appointed two independent accountants to act as “statutory managers” of the eight entities in the meantime – their role is to protect the interests of creditors.
