I just came across this article in the SMH where more super fund retirees have been ripped off to the tune of over 181 medium ones.
( I don't talk about millions anymore in case Barnaby Joyce or Tony Jones from Lateline are reading. A medium one is a million)
ggMillions of dollars in Australians' superannuation savings have vanished into exotic tax havens. Stuart Washington investigates the sharp characters behind a seemingly sleepy fund management operation from Albury.
Since last October, the savings of at least 10,000 superannuation investors have been frozen as regulators pick through $426 million invested in Trio Capital.
At least $123 million is missing in what has been seen as an exotic investment in a fund of hedge funds offered by Trio called Astarra Strategic. Administrators hold little hope for meaningful recoveries, and in fact hold fears for $58 million invested in another Trio fund.