People Back Allen Hubbard
The 74-year old, Allan Hubbard along with hundreds of other people gathered in his home town. Mr. Hubbard is the richest man of South Island.
He had charitable trusts and investment Company, known as Aorangi Securities Ltd. The trust and the Company are put under statutory management after serious fraud office started its investigation regarding the alleged fraud.
Thousands of people in Hubbard’s hometown have protested against this investigation. All of them carried placards and cheered Mr. Allen in the rally, yesterday.
A person had borrowed capital form the Company thirty years back, for his earthmoving business.
"I owed him over $100,000, and he just wiped it. At the time, it was such a relief. And I thought to myself at the time, he's been railroaded for something he has not done”, said the Arthur.
People in Timaru are very grateful to Hubbard and give him the credit for raising the standards of the community. Hubbard has been lending money to people for expanding their business and has also, provided the charity of $ 200 million.
A local businessman supporting Allen Hubbard said that no business in South Canterbury is uninfluenced by Allen’s efforts for the society.
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