The Serious Fraud Office has dropped fraud charges against financier Allan Hubbard but his wife Jean is likely to remain under statutory management until at least next week.
Mr Hubbard, 83, was killed and his 82-year-old wife was injured in a car crash about 5km north of Oamaru on Friday.
Mr Hubbard was due to face 50 fraud charges relating to to failed finance companies he had run, but yesterday the SFO announced it would drop those charges.
SFO chief executive Adam Feeley said criminal charges against Mr Hubbard could not proceed and the office would contact the district court to stop the proceedings, Radio New Zealand reported.
Meanwhile, Mrs Hubbard's assets are likely remain under statutory management until at least next week.
The Government placed the Hubbards' businesses under statutory management in June last year as investigations were ongoing.
Prime Minister John Key yesterday said a decision on lifting the statutory management would not be made until early next week.
Labour leader Phil Goff yesterday called on the statutory managers to release funds to cover the costs of Mr Hubbard's funeral.
A funeral date has not been set.
Mrs Hubbard remains in Dunedin Hospital after Friday's crash.