Terminal cancer patient's $221,000 super wiped out in fund collapse
Richard Orr, 54, lost his $221,000 in superannuation after the First Guardian Master Fund collapsed, just weeks after a terminal cancer diagnosis.
Richard Orr is facing both terminal cancer and a financial nightmare. The Perth man was diagnosed with stage four pancreatic cancer in 2025 and given just six to 12 months to live.
Just three weeks later, he discovered his superannuation had vanished. Richard Orr had transferred $221,000 into a YourChoice Super account on advice from InterPrac financial adviser Rhys Reilly.
That money was funnelled into the First Guardian investment scheme, which collapsed into liquidation. Around 6000 Australians lost $446 million in the collapse.
Orr is now locked out of accessing a single dollar while chasing compensation through legal channels. His recovery path became more complicated when InterPrac was sold to Bellbird Australia, which severed the link to parent company Sequoia.
Proceedings brought by Interprac against AFCA will be heard in February 2027.
- 54
- Orr's age
- $221,000
- Lost superannuation
- 6,000
- Total Australians affected
- $446 million
- Total lost in collapse
Why it mattersIt reveals how fund collapses can trap victims in years of legal delays, especially when the responsible companies are sold and restructured to avoid liability.
AustraliaThousands of Australians are locked out of retirement savings in the First Guardian collapse, facing years of court delays while trying to recover money they planned to retire on.
✓ Claims checked against the source and corrected before publish. checked 3 h ago
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