Barnaby Joyce’s ex-wife reveals she lost more than $400,000 after biggest superannuation collapse in history
Barnaby Joyce’s ex-wife has revealed she lost more than $400,000 following the collapse of her First Guardian and Shield pension funds.
Nearly 12,000 people had their pension funds frozen and wiped out last year; This made retirement no longer a possibility.
Among them was Mr Joyce’s ex-wife Natalie Abberfield, who told A Current Affair she may have to work until she is 80.
“I went through licensed, supervised supervision and now I have nothing,” he said.
“I didn’t really want to work when I was 80, but I have nothing right now. Something needs to be done.”
Mr Joyce backed a “pay now, recover later” scheme to help victims.
Ms Abberfield is also part of the online victim community SOS Save Our Super.
“When you’re dealing with people who are going through the same issue as you, it’s a good support network and there’s information out there,” he said.
“If I hadn’t found it, I probably wouldn’t have complained to AFCA (Australian Financial Complaints Authority).”
Online ads, some of which purported to use artificial intelligence, allegedly directed many victims to retirement health checks, which they then connected with financial advisors such as Venture Egg’s Ferras Mehri.
ASIC alleges these financial advisers persuaded people to invest their superannuation funds into Shield and First Guardian funds.
Mr Mehri vehemently denied doing anything illegal.
“I’m so sorry. It hurts every day,” she told ACA.
Liquidators allege First Guardian director David Anderson and others siphoned off millions of dollars to fund lavish lifestyles that included a $500,000 Lamborghini and a craft brewery.
The cash was also allegedly sent to offshore accounts and Indonesia.
Macquarie Bank and Netwealth agreed to pay more than $421 million in compensation for their roles.
The Federal Court battle is still ongoing.
The deadline to lodge a complaint with the Australian Financial Complaints Authority has recently been extended indefinitely.
