Hubbard court appearance adjourned

Allan Hubbard and a slew of his private companies were put into statutory management nearly a year ago. Photo / APN

Timaru financier Allan Hubbard's first court appearance on 50 fraud charges has been adjourned for almost two months.

His first appearance - set down for Monday - had been adjourned until August 26 for initial disclosure and witness statements, The Timaru Herald reported.

His lawyer Mike Heron said an adjournment application had been made with the consent of the Serious Fraud Office (SFO).

Timaru accountant and financier Mr Hubbard was charged with 50 counts of fraud on June 20 after a year-long investigation by the SFO.

Mr Hubbard, his wife Jean, their companies Aorangi Securities and Hubbard Management Funds, and several charitable trusts were placed in statutory management by the Government on June 20 last year owing millions.

The charges related to theft by a person in a special relationship, false statement by a promoter and false accounting.

His lawyers have indicated the 83-year-old will fight the charges and any trial was expected to be up to a year away.

- NZPA