South Canterbury Finance (SFC), which Mr Hubbard founded, was put into receivership today.
Two of his other companies, Hubbard Management Funds and Aorangi Securities, are in statutory management along with Mr Hubbard and his wife Jean.
The SFO said yesterday its investigations into those companies were continuing.
The Stand By Hubbard Group -- which describes itself as deeply concerned about the actions of the Government in relation to Mr Hubbard -- has set up a Facebook page for fellow supporters.
Since the announcement of SCF's receivership friends of the page have largely blamed the Government, SFO and statutory managers.
"The end of South Canterbury Finance, our greatest investor in South Canterbury, well done SFO you have seriously crippled our economy," Jonny Stanley wrote.
Suzanne Edmonds said it was as Mr Hubbard's supporters had predicted a long time ago.
"The authorities have stuffed the NZ economy...they have failed to police the crooks...let them lead the high life...let the fire sales drive down values and distroy investors confidence (sic)," she said.
A poll on the Stand By Hubbard website asked people if they would vote for National in the 2011 election after the issue with Mr Hubbard.
Of the 98 people who replied 58 said no, 35 yes and five maybe.
Mr Hubbard's supporters have also written to Prime Minister John Key and held marches.
