Showing posts with label Paul Carruthers. Show all posts
Showing posts with label Paul Carruthers. Show all posts

Monday, September 19, 2011

Allan Hubbard Saga: The Ferals: A New Beginning

I wanted to give those that buried their loved one a little more time before I ripped into the scumbags who have leveraged off Allan's death to make their own claim to fame and get themselves some additional exposure. Not happy just to get media exposure while the man is alive they have waited to release the following trash to further their own ends.

An individual called Kerry Grass has prepared a farcical report on the collapse of Aorangi Securities Ltd and Allan Hubbard's part in that collapse. There is nary a mention of the false accounting, misleading information to investors and other huge financial inconsistencies that have been reported by the 7th Grant Thornton Report, so it can easily be dismissed as a waste of time and if you could put a PDF file in the trash that is the best place for it.

What is really galling is that the unofficial Hubbard Supporters Group - the nutbag ones who self appointed and previously used traveling salesman Paul Carruthers as its spokeperson - has used the publicity surrounding Allan's death to launch a facial petition to have the Government dissolved:

Please take part in this important initiative to petition directly the Governor General of New Zealand, calling for him to immediately begin an independent, transparent investigation into the Alan Hubbard affair. And to dissolve parliament and place New Zealand under a care taker government until such time, that the investigation has been satisfactorily implemented.

Below you will find the wording of a letter, suitable for the purpose, copy and paste folks. You may of course change the wording as you see fit. Please use this link http://gg.govt.nz/contact to email it directly to the office of the Governor General and please, back up your submission by sending a printed hard copy to...

Government House
Private Bag 39995
Wellington Mail Centre
Lower Hutt 5045
New Zealand.

Letter:

To: His Excellency the Governor General of New Zealand.
Lt Gen Rt Hon Sir Jerry Mateparae


Dear Excellency,

As a citizen of New Zealand, I petition his Excellency the Governor General to begin an immediate independent, transparent investigation into the Alan Hubbard affair. I ask that all documents relating to this sordid episode in our history, leading to the death of Alan Hubbard, be seized, including interdepartmental and ministerial emails, transcripts, recordings and all documents that might be held by the office of the Prime Minister and Minister of Commerce. I ask that such seizure be carried out by the New Zealand Police under the strict supervision of an independent investigator and suggest this person be Kerry Grass, who is known to the Prime Minister.

I further petition his Excellency to dissolve parliament immediately, putting in place a caretaker government and that the November election be postponed until investigations are satisfactorily implemented, relating to the activities of the Prime Minister, Minister of Commerce, the Securities Commission, the Registrar of Companies, the Companies Office, the various statutory managers involved and the Serious Fraud Office.

There is an unpleasant smell of harassment and corruption that goes to the very top of our political system, all the way to our Prime Minister and that sense of corruption, is certainly serious enough to warrant such investigation and call into question our citizens continued confidence in our government. With the death of Alan Hubbard, there seems little chance of ever proving his innocence, as things stand, but there are glaring questions relating to the activities of all the government offices and Ministers involved, including John Key.

I sight as evidence to give appropriate weight to our citizens call for an immediate investigation and dissolution of parliament, this report by Kerry Grass, an investigator of considerable and note worthy experience.

Report link http://img.scoop.co.nz/media/pdfs/110...

I thank his Excellency for his indulgence in these matters.

Yours sincerely,
Add your name here!


Now if you can pry yourself off the floor after the uncontrollable laughing you would have been doing while reading this, one would have to wonder the motivation of individuals like this who want to gain maximum publicity by releasing this at the same time Mr Hubbard died in an horrific car crash.

They should have waited a few weeks before getting out the crayons and scratching together a press release because the words bad taste to describe what they have done is an understatement to say the least.

Tacky, self serving, selfish, nasty and completely devoid of intelligence.

As I said a few weeks ago it is best they park it and let the experts decide what happens now.

Allan Hubbard Saga

Full SFO Statement on SCF Fraud Investigation

Hubbard Letter to Simon Power

Download Grant Thornton Report 1
Download Grant Thornton Report 2
Download Grant Thornton Report 3
Download Grant Thornton Report 4
Download Grant Thornton Report 5
Download Grant Thornton Report 6
Download Grant Thornton Report 7 - Aorangi Securities
Download Grant Thornton Report 7 - Hubbard Management Funds

Join the Put Allan Hubbard Away Facebook Group

Allan Hubbard Saga: Does death mean the End?
Allan Hubbard Saga: Time for supporters to let go
Allan Hubbard Saga: 7th Grant Thornton Report - Hubbard Management Funds
Allan Hubbard Saga: 7th Grant Thornton Report - Aorangi Securities
GUEST POST: Deborah Hill Cone: NZ - crazy people, crazy place
Allan Hubbard Saga: When Monkeys Attack!
Allan Hubbard Saga: Victims Share Stories
Allan Hubbard Saga: The Defence
Allan Hubbard Saga: Fraud Charges - The Detail
Allan Hubbard Saga: Hubbard to Face Fraud Charges
Adam Feely on Hubbard Fraud Charges
Allan Hubbard Saga: Answers to Investor's Frequently Asked Questions
Allan Hubbard Saga: Still Feral After All These Years
Allan Hubbard Saga: Sixth Grant Thornton Report
Allan Hubbard Saga: Hubbard looks set to cop a plea
Allan Hubbard Saga: Supporters Risk Legal Action
Allan Hubbard Saga: Mental Challenge
Allan Hubbard Saga: Hubbard Defiant in 2011
Book Review: Allan Hubbard: Man Out of Time, by Virginia Green
Allan Hubbard Saga: VIDEO - Hubbard Biographer Virginia Green on TVNZ's Breakfast
Book Extract - Allan Hubbard: Man Out of Time
Allan Hubbard Saga: Going Feral - Part 3, The Final Cut
Allan Hubbard Saga: Going Feral - Part 2
Allan Hubbard Saga: Paul Carruthers Goes Feral... Again
Allan Hubbard: The Biography
Allan Hubbard Saga: On Forged Signatures and Uncharitable Trusts
Allan Hubbard Saga: Evidence of Fraud now Clear
Allan Hubbard Saga: NBR VS the SFO
Allan Hubbard Saga: South Canterbury Finance to be investigated by the SFO
Allan Hubbard Saga: Third Grant Thornton Report
Allan Hubbard Saga: Will He Walk?
Allan Hubbard Saga: No Longer Bothered by Botherway
Allan Hubbard Saga: 60 Minutes Interview, Sept 23 2010
Allan Hubbard Saga: Supporters head to the exit door
Allan Hubbard Saga: Threats & the Mysterious PWC Report
Allan Hubbard Supporters: Conflict of Interest
VW Veneer reveals BMW heart
VIDEO: Jenni McManus Explains Allan Hubbard Collapse
Allan Hubbard Statement on SCF Receivership
VIDEO: Sandy Maier - full news conference on SCF Receivership
Market Alert: South Canterbury Finance to be placed in Receivership
Allan Hubbard: Ignorant Supporters Blissfully Unaware
Thornton Report 2: Allan Hubbard Guilty as Charged
Allan Hubbard: Full TV3 Interview - July 16 2010
Thornton Report 1: Allan Hubbard's Aorangi Securities
Bothered by Simon Botherway



c Share Investor 2011



Monday, May 23, 2011

Allan Hubbard Saga: Still Feral After All These Years



Allan Hubbard Saga: Does death mean the End?

Nothing much has happened in the long running and long winded Allan Hubbard Saga since the sixth Grant Thornton Report in March. Allan and his lawyers have stalled for time and got it and the serious Fraud Office has still yet to decide whether they will place fraud charges on the old bugger.

I have however received an interesting communication from Paul Carruthers, the former unofficial spokesman for the group supporting Hubbard while at the same time going to bat for those who lost money because of Allan. Not sure how he did justice to both causes considering he was acting on the behalf of both but that is just me thinking out loud again.

The communication from Mr Carruthers was blunt, threatening and to the point and while he has a penchant for doing this to people who disagree with him to the point they are now ignoring him I would just like to give him one more public appearance so those that are fooled by his mild mannered public persona are not taken in by his hollywood act.

What follows is Paul's email to me, unedited and mostly fabricated in content save that I have written about him and his group in the distant past in response to his public appearances and comments over Mr Hubbard:

fromPaul Carruthers *******@gmail.com
toshareinvestornz@gmail.com
dateWed, May 18, 2011 at 9:02 AM
subjectCease and desist - final warning.
mailed-bygmail.com
signed-bygmail.com


Darren,

You have until Sunday to remove your comments about me from your "Allan Hubbard" and "Put Allan Hubbard Away" pages, as well as every article and comment you have written which contains any reference to me from your website.

While Allan's lawyers are preparing a case against you for the two Facebook pages mentioned above, I am only interested in the comments you have made about me contained within them.

Since you started your crusade against me, I have been saving copies of everything you do, and the list of evidence my lawyer is now in possession of amounts to 157 pages of information, demonstrating clearly that you have a psychotic, unhealthy and disturbing obsession with me.

I have witness statements verifying that you have stalked me on the internet and made various efforts to breach my privacy.

I have written testimony from a computer forensics expert, linking you to Facebook profiles and emails you have sent, which amount to harassment and invasion of my privacy.

My lawyer has just received a report I commissioned last week from a court-appointed clinical psychologist, who I contracted to do an assessment of the body of evidence we have collected about you, including the references you have made to me in your articles.

The report describes you as being mentally disturbed and a potential danger to society.

I agree with it's findings wholeheartedly.

If other people are willing to put up with your abuse, that is their problem, but I will not tolerate it.

With that in mind, the following will occur if all of the information I have asked you to remove from the internet is not completely removed by the end of this week.

1: The Police Complaint against you for harassment and the corresponding restraining order my lawyer is holding on to will be hand delivered to Auckland Police on Monday 23rd May 2011, and the restraining order will be obtained from the courts by Monday lunchtime and served on you by the Police.

2: My lawyer will courier the psychologists report, along with all 157 pages of PDF evidence showing your "work", along with a corresponding letter from my lawyer, to CYF. A robust application will be made to remove your child from your custody on the basis that you are a danger to the child and a danger to society.

3: An application will be made to the courts to have you detained in a psychiatric institution under the mental health act for threatening to cut my tongue out (PDF copies will be provided).

4: An application will be made to your internet service provider to suspend your account and remove your website from the internet, due to the abuse and threats you have issued through it.

5: A press statement declaring that these steps have been taken to protect me against you will be released to the media by 5pm Monday 23rd May 2011, after steps 1 to 4 are completed. Among the recipients of the press statement will be the specific women's magazines that ran the story of your surrogacy. They will be asked to comment on your progress.

Because I am a fair and reasonable man, I am giving you the opportunity to prevent all of this by removing the abuse you have posted about me from Facebook and from your website.

If you do no comply with my request - make no mistake about it - the steps outlined above will be taken and I will pursue the matter until you are detained or at least until you are required to defend your position in court.

All of the aforementioned evidence is now in my lawyers hands, and she is awaiting my further instructions. She already has written instructions to proceed as stated above, once I give the final word on Sunday night.

You can save both of us time, money, and stress by just removing any references you have made about me from the internet Darren.

If you do not do that within the time frame I have requested, life as you know it will change forever by Monday evening next week, believe me.

You have until Sunday to decide. No need to contact me - I will be monitoring it, and I will see if you remove it or not.

If it is still there (any of it) by Sunday evening - when we finally meet it will be in a court room, for the purposes of having your child removed from you for it's protection and for the purposes of having you committed.

If you think I am joking - do nothing and learn the hard way.

Paul Carruthers.


I will leave it for readers to decide what they think but I think Paul's comments really speak for themselves, don't you?


Allan Hubbard Saga

Full SFO Statement on SCF Fraud Investigation

Hubbard Letter to Simon Power
Download Grant Thornton Report 1
Download Grant Thornton Report 2
Download Grant Thornton Report 3
Download Grant Thornton Report 4
Download Grant Thornton Report 5
Download Grant Thornton Report 6



Allan Hubbard Saga: Does death mean the End?
Allan Hubbard Saga: Hubbard to Face Fraud Charges
Allan Hubbard Saga: Sixth Grant Thornton Report
Allan Hubbard Saga: Hubbard looks set to cop a plea
Allan Hubbard Saga: Supporters Risk Legal Action
Allan Hubbard Saga: Mental Challenge
Allan Hubbard Saga: Hubbard Defiant in 2011
Book Review: Allan Hubbard: Man Out of Time, by Virginia Green
Allan Hubbard Saga: VIDEO - Hubbard Biographer Virginia Green on TVNZ's Breakfast
Book Extract - Allan Hubbard: Man Out of Time
Allan Hubbard Saga: Going Feral - Part 3, The Final Cut
Allan Hubbard Saga: Going Feral - Part 2
Allan Hubbard Saga: Paul Carruthers Goes Feral... Again
Allan Hubbard: The Biography
Allan Hubbard Saga: On Forged Signatures and Uncharitable Trusts
Allan Hubbard Saga: Evidence of Fraud now Clear
Allan Hubbard Saga: NBR VS the SFO
Allan Hubbard Saga: South Canterbury Finance to be investigated by the SFO
Allan Hubbard Saga: Third Grant Thornton Report
Allan Hubbard Saga: Will He Walk?
Allan Hubbard Saga: No Longer Bothered by Botherway
Allan Hubbard Saga: 60 Minutes Interview, Sept 23 2010
Allan Hubbard Saga: Supporters head to the exit door
Allan Hubbard Saga: Threats & the Mysterious PWC Report
Allan Hubbard Supporters: Conflict of Interest
VW Veneer reveals BMW heart
VIDEO: Jenni McManus Explains Allan Hubbard Collapse
Allan Hubbard Statement on SCF Receivership
VIDEO: Sandy Maier - full news conference on SCF Receivership
Market Alert: South Canterbury Finance to be placed in Receivership
Allan Hubbard: Ignorant Supporters Blissfully Unaware
Thornton Report 2: Allan Hubbard Guilty as Charged
Allan Hubbard: Full TV3 Interview - July 16 2010
Thornton Report 1: Allan Hubbard's Aorangi Securities
Bothered by Simon Botherway





c Share Investor 2011






Thursday, November 11, 2010

Allan Hubbard Saga: Going Feral - Part 3, The Final Cut

Well, if you have following the sideshow to the Allan Hubbard Saga as a whole, the collapse of Paul Carruthers, the main supporter of Allan Hubbard, into a heap of his own paranoid delusional bile, we seem to have wrapped up the trilogy with news out this morning that Allan Hubbard has distanced himself from Paul and his support activities:

Paul Carruthers, a traveling salesman and the spokesman for the group Stand By Hubbard, has been outspoken in his defence of Mr Hubbard...

Mr Carruthers has frequently commented online that Mr Hubbard's financial downfall was the result of a government and media conspiracy.
Mr Hubbard has said while Mr Carruthers rings him "occasionally", he was not authorised by him to be his spokesman.
"He does have some odd views.
"He is doing this on his own account. He is not an investor; he is just someone that feels strongly about what has happened."
Mr Carruthers is also one of half a dozen regular commenters on the Leave Allan Hubbard Alone Facebook group.
"I said they rolled Allan to make way for the new Heartland Bank. History will prove me right," Mr Carruthers posted on Facebook on Sunday. Timaru Herald 11/11/10
Yes, he does have some "odd views" and clearly for the object of Paul's desire to come out and distance himself so forthrightly means Mr Carruthers needs to step down from his position and let a more moderate and capable person speak for Hubbard. At least get permission from the man to speak on his behalf.

Allan Hubbard can clearly speak for himself and it is best that the public get his side of the story directly from him rather than filtered though an individual with a conspiracy theory at the centre of his argument.

With that in mind, my offer to interview Allan is an open ended one and his rational supporters who are reading this should contact me at shareinvestornz@gmail.com if they want to put me in contact with the man and or let him know I would love it if he could speak to his supporters directly without the distractions from Mr Carruthers.

Related Share Investor Reading
Full SFO Statement on SCF Fraud Investigation
Download Grant Thornton Report 1
Download Grant Thornton Report 2
Download Grant Thornton Report 3
Download Grant Thornton Report 4

Join the Put Allan Hubbard Away Facebook Group

Allan Hubbard Saga: Going Feral - Part 2
Allan Hubbard Saga: Paul Carruthers Goes Feral... Again
Allan Hubbard: The Biography
Allan Hubbard Saga: On Forged Signatures and Uncharitable Trusts
Allan Hubbard Saga: Evidence of Fraud now Clear
Allan Hubbard Saga: NBR VS the SFO
Allan Hubbard Saga: South Canterbury Finance to be investigated by the SFO
Allan Hubbard Saga: Third Grant Thornton Report
Allan Hubbard Saga: Will He Walk?
Allan Hubbard Saga: No Longer Bothered by Botherway
Allan Hubbard Saga: 60 Minutes Interview, Sept 23 2010
Allan Hubbard Saga: Supporters head to the exit door
Allan Hubbard Saga: Threats & the Mysterious PWC Report
Allan Hubbard Supporters: Conflict of Interest
VW Veneer reveals BMW heart
VIDEO: Jenni McManus Explains Allan Hubbard Collapse
Allan Hubbard Statement on SCF Receivership
VIDEO: Sandy Maier - full news conference on SCF Receivership
Market Alert: South Canterbury Finance to be placed in Receivership
Allan Hubbard: Ignorant Supporters Blissfully Unaware
Thornton Report 2: Allan Hubbard Guilty as Charged
Allan Hubbard: Full TV3 Interview - July 16 2010
Thornton Report 1: Allan Hubbard's Aorangi Securities
Bothered by Simon Botherway

New From Fishpond.co.nz

Hubbard: A Biography of Allan Hubbard


c Share Investor 2010

Monday, November 8, 2010

Allan Hubbard Saga: Paul Carruthers Goes Feral... Again

Head of the Allan Hubbard Supporters Group, Paul Carruthers, has been busy sending out emails about me to his loyal followers. Of course he is entitled to do that, I have been giving his hero Allan Hubbard a bit of shtick over his shell games with other people's moola so he will have strong opinions about me. Bring it on I say but at least be honest and attack the message rather than the messenger.

Paul's Email, not publicly released, leaked to me by a fan of mine:

Update for investors & supporters - the lies just keep getting bigger.....

Hello everyone,

As some of you know, Allan's autobiography is hitting the bookstores this week.

Darren Rickard - Allan's self-appointed public executioner, has referred to it in his latest call for his version of Sharia law to apply to Allan and his supporters.

His article can be viewed here: http://shareinvestornz.blogspot.com/2010/11/allan-hubbard-biography.html

As you can see - he has started by trying to convince people that Allan's supporters somehow managed to convince Random House and an author in the United States (Virginia Green) to write this book quickly since 20th June.

It was pointed out to me last night that Darren Rickard is being paid to drum up this kind of rubbish, but either way, it has to be one of the more desperate attempts to twist the facts to suit his 'story' that I have seen him come up with yet.

Sadly, the fact that Darren Rickard is allowed into the community is a consequence of the government's cuts to mental health funding.

Regards,

Paul Carruthers.
Stand by Hubbard
Support Team


My reply to Paul & his supporters:

I know most of his supporters read what I have to say so lets just get things straight.

1: The Book, tentatively titled, Allan Hubbard: The Life & Times of a Kiwi Legend, By Virginia Green, which you can buy from me here, (As a taxpayer I have to get my money back somehow and how delicious it will be to do that by selling this book) is not coming out this week, it will be released on Novemeber 15.

2: The book is a Biography, not an Autobiography. It has been written by Virginia Green and not Allan Hubbard.

3: I am not getting paid for this but I will be getting a free copy of the book to review from publisher Random House, so that is a clear lie but Mr Carruthers has a history of being adept at lying. These are merely my opinions based on the facts as I see them.

4: I have had minor mental health problems in the distant past, as many of us have, and I will let readers decide if I am mentally impaired or otherwise. I know some interesting things about Mr Carruther's personal life but I do not think it is my place to divulge them here or relevant to do so.

5: I never intimated the whole book was rushed but the last 2 chapters have been because they include the whole saga over Mr Hubbard's collapsed business empire. This is one reason why the book has been delayed for 10 days.

6: Sharia Law I would normally be disdainful of but the punishment for lying is the cutting out of the tongue but clearly Mr Carruthers still has his fingers so cant be stopped from writing rubbish like the above but the former nonetheless is still worth considering.

Should I have ignored this? Probably, but you Hubbard supporters and my dear readers need to know where this individual is coming from.

Cheers Deepthroat, Darren

Related Share Investor Reading

Full SFO Statement on SCF Fraud Investigation

Download Grant Thornton Report 1
Download Grant Thornton Report 2
Download Grant Thornton Report 3
Download Grant Thornton Report 4


Allan Hubbard: The Biography
Allan Hubbard Saga: On Forged Signatures and Uncharitable Trusts
Allan Hubbard Saga: Evidence of Fraud now Clear
Allan Hubbard Saga: NBR VS the SFO
Allan Hubbard Saga: South Canterbury Finance to be investigated by the SFO
Allan Hubbard Saga: Third Grant Thornton Report
Allan Hubbard Saga: Will He Walk?
Allan Hubbard Saga: No Longer Bothered by Botherway
Allan Hubbard Saga: 60 Minutes Interview, Sept 23 2010
Allan Hubbard Saga: Supporters head to the exit door
Allan Hubbard Saga: Threats & the Mysterious PWC Report
Allan Hubbard Supporters: Conflict of Interest
VW Veneer reveals BMW heart
VIDEO: Jenni McManus Explains Allan Hubbard Collapse
Allan Hubbard Statement on SCF Receivership
VIDEO: Sandy Maier - full news conference on SCF Receivership
Market Alert: South Canterbury Finance to be placed in Receivership
Allan Hubbard: Ignorant Supporters Blissfully Unaware
Thornton Report 2: Allan Hubbard Guilty as Charged
Allan Hubbard: Full TV3 Interview - July 16 2010
Thornton Report 1: Allan Hubbard's Aorangi Securities
Bothered by Simon Botherway

New From Fishpond.co.nz


Hubbard: A Biography of Allan Hubbard


c Share Investor 2010



Wednesday, September 22, 2010

Allan Hubbard Saga: Supporters head to the exit door

Interesting that in a piece in the Otago Daily Times on the case that Allan Hubbard supporters say they have against the Statutory Management of several of his financial entities and the spectacular crash of South Canterbury Finance indicates that it is unraveling quicker than a mangy cat pulling on a wet ball of wool:

"Chief Ombudsman Beverley Wakem was yesterday forced to tone down claims her office was investigating an alleged conflict of interest against Securities Commission member Simon Botherway, saying it was looking at the process and procedures followed, not Mr Botherway's actions.

Also yesterday, a formal business connection claimed by the group to exist between Mr Botherway and Christchurch businessman George Kerr was revealed to have ended in December 2004, when Mr Kerr resigned as a director of Brooke Asset Management.

Information on the New Zealand Companies Office website shows Mr Botherway resigned as a director in July 2008 and that Brooke Asset Management is now owned by Macquarie Investment Management Ltd.

The Securities Commission in June recommended Aorangi Securities, seven charitable Trusts and Mr and Mrs Hubbard be placed in statutory management, but it was several days later that Mr Botherway revealed that last year businesses owned by his brother, Jonathan, had been placed in receivership by South Canterbury Finance (SCF), owing $7.8 million.

The Stand By Hubbard campaigners accuse Mr Botherway of having a conflict of interest as a result, a claim that appeared to have some substance when the Office of the Ombudsmen earlier this month agreed to an investigation.

But Ms Wakem contacted media yesterday to emphasise her office was not investigating Mr Botherway and the process was fair and administrative justice was followed in the disclosure of a potential conflict of interest." Otago Daily Times, 22 Sept 2010

Those of you reading my comments on this long-winded saga will know that Allan Hubbard's supporters didn't really have a case from the get-go.

Claims by Paul Carruthers, one of the main drivers of the case supporting Hubbard, have ranged from multiple conflicts of interests, fraud by several politicians and business identities and a conspiracy planned by John Key's Government to set up a bank with his mates in Canterbury.

Claims made by Carruthers and something I was questioning myself, that Simon Botherway had a conflict of interest as his position as a board member of the Securities Commission clashed with its involvement in the statutory management of the Hubbards and the fact that a company owned by Botherway's brother was wound up by South Canterbury Finance, are also looking quite tentative given comments made that the ombudsman is only looking at processes followed rather than the actions of Mr Botherway.

Paul Carruthers submitted the complaint to the ombudsman.

I agree with Carruthers that Botherway's conflict should be investigated. I believe that no matter if he didn't have a "real" conflict of interest - I cant see how he didn't - it is the perception in the public's eye that counts and it is clear that our perception is that Simon Botherway had a conflict at least in that sense.

On Paul, he has spontaneously combusted into the ether after my questioning of him on this post and on a personal Facebook exchange with me yesterday, on the validity and availability of the Pricewaterhouse Coopers Report that his group have placed utmost importance on.

"I never claimed to have it but that doesn't mean I haven't seen it. Why do you want to see it if you are already convinced he is guilty? Are they not paying you enough? Hedging your bets just in case huh?" Facebook Exchange

Paul's personal Facebook page has vanished as have all the comments on the Help Allan Hubbard Facebook page as well as all documents related to his "case" on the Standbyhubbard.org site.

Is Paul sitting somewhere in a corner violently rocking back and forth? He doesn't do quiet at all.

Given the slow unraveling of evidence against Allan Hubbard thus far and more to come over the coming weeks - Grant Thornton Report 3 is due next week - I am betting that Paul and his merry band of pied piper followers will disappear into the ether with not much more than a squeak.

Pressure from myself and others seems to be batting the bastards back.

The silence from the affirmative is deafening.


Related Share Investor Reading

Download Grant Thornton Report 1
Download Grant Thornton Report 2

Allan Hubbard Saga: Threats & the Mysterious PWC Report
Allan Hubbard Supporters: Conflict of Interest
VW Veneer reveals BMW heart
VIDEO: Jenni McManus Explains Allan Hubbard Collapse
Allan Hubbard Statement on SCF Receivership
VIDEO: Sandy Maier - full news conference on SCF Receivership
Market Alert: South Canterbury Finance to be placed in Receivership
Allan Hubbard: Ignorant Supporters Blissfully Unaware
Thornton Report 2: Allan Hubbard Guilty as Charged
Allan Hubbard: Full TV3 Interview - July 16 2010
Thornton Report: Allan Hubbard's Aorangi Securities
Whatever happened to? Muriel Dunn
Bothered by Simon Botherway
Allied Farmers: Prosecutions should be on the cards
Allied Farmers Fraud passes with little fanfare
Allied Farmers: What's it Worth?
Hanover, Allied Farmers deal more of the same
Jane Diplock Q & A Interview
Hanover's "White Knights" are really daylight robbers
Hanover collapse: It was just a matter of time
Money Managers Saga: 3 Story wrap
Money Managers gives First Step investors the middle finger
Greed is bad: Geneva Finance Folds
Financial 101: Learn before you leap
Kevin's Blog


Recommended Fishpond Reading


Crisis: One Central Bank Governor and the Global Financial Collapse

Buy The Intelligent Investor & more @ Fishpond.co.nz

Fishpond


c Share Investor 2010

Monday, September 20, 2010

Allan Hubbard Saga: Threats & the Mysterious PWC Report (UPDATED)

Update includes footnote of Mr Carruther's response to me on the PWC Report.


Back to the furore over Allan Hubbard and the collapse of his financial empire due to to dubious business practices and fraud.

After writing this last week constructively criticizing the Hubbard Support Group and other posts on the topic, I got legal threats poked at me from the hapless Paul Carruthers, the head of the support group. Threats to myself and family of bodily and other harm came from his supporters into my email box and through Facebook over the weekend.

The police have been made aware of this but say they can do nothing unless it is a death threat or actual harm is done.

No doubt they want me to shut my mouth but if you know me you will know that I don't give in to threats of any kind so I will continue to discuss this important issue with my readers - approx 12000 in August and growing.

I just have to say attack my message or opinion if you will but there is no reason to get personal with me.

Going back to the issue at hand, I keep coming across this magical mystery answer to my probing questions on the Statutory Management of two of Hubbard's failed companies and apparently some of his other failed companies as well. That is, there is a favourable opinion in a Pricewaterhouse Coopers Report that differs from the publicly released Grant Thornton Report as to why Statutory Management was implemented.

The problem for me is that this PWC report is somehow only news to Hubbard's supporters. The groundbreaking evidence that Paul Carruthers and his followers say they have they are keeping to themselves.

Good lord I would be shouting it from the rooftops. They were very vocal last weekend when a small group of them met to decide their next plan of action, they even got 10 seconds on the Tele.

No PWC report was released !

You would have to conclude then given the otherwise vocal support for their man, the fact they don't release the PWC report they say they have - and I have no reason to doubt they have some piece of paper with ink on it - means what they do have just doesn't hold up to any scrutiny.

I have asked Paul Carruthers for the PWC Report when they first mentioned it weeks back, again today from him and several other key Hubbard supporters. Nothing has, to date, been forthcoming.

Stay tuned!

Footnote: Paul Carruthers, the main backer of the Hubbard Support Group, has seen the PWC Report but claims not to have it. Funny when it looks like at least he has been quoting it verbatim in much of his correspondence to his supporters.

It doesn't look like this report will see the light of day.


Related Share Investor Reading

Download Grant Thornton Report 1
Download Grant Thornton Report 2

Allan Hubbard Supporters: Conflict of Interest
VW Veneer reveals BMW heart
VIDEO: Jenni McManus Explains Allan Hubbard Collapse
Allan Hubbard Statement on SCF Receivership
VIDEO: Sandy Maier - full news conference on SCF Receivership
Market Alert: South Canterbury Finance to be placed in Receivership
Allan Hubbard: Ignorant Supporters Blissfully Unaware
Thornton Report 2: Allan Hubbard Guilty as Charged
Allan Hubbard: Full TV3 Interview - July 16 2010
Thornton Report: Allan Hubbard's Aorangi Securities
Whatever happened to? Muriel Dunn
Bothered by Simon Botherway
Allied Farmers: Prosecutions should be on the cards
Allied Farmers Fraud passes with little fanfare
Allied Farmers: What's it Worth?
Hanover, Allied Farmers deal more of the same
Jane Diplock Q & A Interview
Hanover's "White Knights" are really daylight robbers
Hanover collapse: It was just a matter of time
Money Managers Saga: 3 Story wrap
Money Managers gives First Step investors the middle finger
Greed is bad: Geneva Finance Folds
Financial 101: Learn before you leap
Kevin's Blog


Recommended Fishpond Reading


Crisis: One Central Bank Governor and the Global Financial Collapse

Buy The Intelligent Investor & more @ Fishpond.co.nz

Fishpond


c Share Investor 2010

Saturday, September 18, 2010

Allan Hubbard Supporters: Conflict of Interest

If I have a possible conflict of interest when writing on the subject of investing I always declare my financial interest, if any.

You have to be upfront and direct with people otherwise they wont take you seriously if they subsequently find out you write with a fork typewriter - ask David Garrett.

With Allan Hubbard and his collapsed Aorangi Securities and Hubbard Management Funds, which are now under statutory management, his key supporters need to show their hand lest they be tarred with a conflict of interest.

The leaders of the Hubbard support group, Paul Carruthers, Michelle Helliwell, Keiran Trass and other reasonably prominent people who I am aware of but wont name because they haven't yet publicly come out, need to declare what financial or personal interest they had and still have in either of Hubbard's failed companies or the man himself and therefore what they might stand to gain by grandstanding on Facebook, television and every other media outlet they fevourishly send press releases to in the hope of getting a scrap of publicity.

I mean, why else would you attack other individuals or groups who had nothing material to do with the collapse of Hubbard's empire unless you had the possibility of a financial gain sometime in the future?

I don't think they are narcissistic attention seekers, although at times they unintentionally cross that line.

Those of us who are not rabid Hubbard supporters would be entitled to think that you had more skin in the game than just losing a personal investment in either of the two Hubbard companies under Statutory Management because of possible fraud, insider lending irregularities, fabricated investments and inadequate and misleading paperwork.

If it was just money lost in Hubbard Management Funds and Aorangi Securities wouldn't you want to go after the individual or company responsible? That is, Allan Hubbard and his directors, instead of trying to scapegoat the responsibility to the Statutory Managers, the Government, Simon Botherway, Bill English, John Key and a conspiracy put forward by Mr Carruthers that the statutory management process was a ruse by the National Party to set up a private bank in the South Island for some of their mates down there - Mr Carruthers does have an active imagination, Ill give him that.

There is a disconnect then when it comes to those leaders of the Hubbard support group who have publicly put themselves forward. A disconnect between who is responsible for losing money in the aforementioned Hubbard investment failures - the individuals who invested or those that were advised by so-called experts and Allan Hubbard are clearly to blame - and those who run the Hubbard support groups who want to shift the blame to others and not Allan Hubbard and ultimately the investors themselves.

We have seen countless other finance companies of Hubbard's ilk go under because of dodgy dealings but outspoken investors have always pointed the finger largely at where the blame lay. At their advisers feet, with the company or individuals in the company itself or indeed themselves for being ignorant or too greedy in a small number of cases. They have never involved parties that have had nothing to do with the collapse of the respective finance company.

What have the leaders of the Hubbard support group got to gain from pointing the finger at the wrong people?

I would suggest you follow the money. Where you find the most moola to gain or lose or a back to re-slap you will find the most vocal trying to duck their responsibility.

It is called risk guys, take a look in the mirror and spell it out slowly.

Sometimes you win, sometimes you lose.

At least be upfront though for the reason for your support and declare any interests.

It is the honest thing to do.


* Just a wee footnote:

Just over 200 devotees of Allan Hubbard turned out today in Timaru in the vain hope that statutory managers, Grant Thornton would be forced to overturn a statutory management that is legally unchallengeable.


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