Terminally ill investors fight to recoup lost super
About 6,000 Australians invested roughly $680 million in two collapsed managed funds through InterPac-licensed advisers.
Kevin Wright is dying of lung cancer. His wife Meredith was supposed to be cared for in retirement but now cares for him full-time.
In 2023, an adviser convinced them to invest more than $200,000 in First Guardian and Shield, schemes that have since collapsed. More than 6,000 Australians invested about $680 million via InterPac-licensed advisers.
Regulators are considering whether to block InterPac's sale. Meredith went to the financial ombudsman to recover the funds.
- $200,000 of Kevin's superannuation
- Amount lost
- 6,000 Australians invested ~$680 million
- InterPac-linked investors
- ~12,000 investors lost $1 billion+
- Total across both schemes
- Lung cancer, terminal
- Kevin's diagnosis
Why it mattersInvestors face major losses in retirement savings while regulators debate protecting what remains.
AustraliaThousands of Australians lost super in collapsed schemes; regulator actions will determine if and how they recover funds.
✓ Claims checked against the source. checked 18 h ago
