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.

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c Share Investor 2010


  1. Sorry to hear this, keep up the good work and don't let the buggers win.

  2. I back you Darren, good on you for voicing the opinion of most kiwis on this one.


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