Hubbard investors' fund grows

Nearly $40,000 had been raised from the public to help Aorangi investors most in need, a spokesman for the Hubbard Support Fund Trust, John Funnell, said yesterday.

The trust was finding many elderly investors were reluctant to ask for help because they were too proud.

"We don't want people to be embarrassed about their circumstances. They have been disadvantaged and we want to help.

"The trustees are worried that some of these people won't ask for help until the ambulance comes along to take them to hospital suffering from hypothermia or hunger."

The trustees had posted a letter to investors urging them to come forward if they were in need. They could apply to Gore accountants O'Connor Richmond if they were too embarrassed to contact the trustees directly, Mr Funnell said.

He and the other trustees, Ian Tulloch and David Williams, remained firm supporters of Mr Hubbard and his wife Jean.

Mr Funnell was reluctant to talk about what the SFO report due out next week might say.

"Even if they do find $5 went missing, it doesn't mean it was fraud. I have been to Timaru twice and can assure you the Hubbards live a very frugal lifestyle.

"There was no Porsche parked in the drive, no gold jewellery dripping off Allan and there was no boat moored in the marina."

The Hubbards' future depended on people from a big organisation who earned much more than Mr Hubbard ever did, Mr Funnell said.

 

 

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