Retail Deposits Guarantee Scheme. The charges included entering the Crown Guarantee Scheme by deception, omitting to disclose a related party loan of $64.185m from SCF to Southbury Group and Woolpak Holdings, failing to disclose related party loans of $19.1m from SCF to Shark Wholesalers, and breaching the crown guarantee scheme by lending $39m to Quadrant Holding Limited. The five accused were; former South Canterbury Finance chief executive Lachie McLeod, former South Canterbury Finance directors Edward Oral Sullivan and Robert Alexander White (a lawyer with Raymond Sullivan McGlashan), former chief financial officer of South Canterbury Finance, Graeme Brown, and Timaru chartered accountant Terry Hutton, formerly of Hubbard and Churcher. The alleged offences included theft by a person in a special relationship, obtaining by deception, false statements by a promoter of a company and false accounting. All five defendants denied the charges. A date of Monday 28 May 2012 was set for a post committal conference. In 2013 charges against Brown and Hutton were dropped, leaving the former chief executive (McLeod) and two former directors (Sullivan and White) to stand trial. Statutory management On 20 June 2010, the New Zealand Government placed Allan Hubbard, his wife Jean Hubbard and his business Aorangi Securities and seven charitable trusts into statutory management, with Trevor Thornton and Richard Simpson of Grant Thornton New Zealand Limited appointed as statutory managers. This decision was based on recommendations from the Securities Commission of New Zealand after a complaint from an investor. Allan Hubbard established Aorangi Securities Limited in 1974. The directors were Allan and Margaret Hubbard and the share capital was owned by another Hubbard-owned company, Forresters Nominee Company Limited. Aorangi had operated as a finance company, having raised $98 million from 407 investors living in Otago and Canterbury and making loans of approximately $134 million to borrowers. The review of the Securities Commission concluded that many of the loans were inadequately documented, appeared to be unsecured and contrary to instructions from investors. The Serious Fraud Office initiated an investigation for fraud. The news was met with disbelief in his home town of Timaru and elsewhere in the South Island, where Hubbard was seen as a pillar of the community. There was widespread support for Allan Hubbard and a rally was held for him on 26 June 2010 in Timaru attended by thousands of people who protested against the investigation. In June 2010, supporters of Allan Hubbard started