A teacher who spent more than 40 years building a $500,000 retirement nest egg was left devastated days before her 65th birthday when she discovered her savings had vanished into the failed First Guardian investment scheme.
Tess Ogara was counting down to retirement and finally becoming mortgage-free when she received an email saying that her retirement funds had effectively disappeared, with liquidators investigating how much money, if any, could be recovered.
'Two days before my 65th birthday in April 2025, I received an email from FTI Consulting advising that Falcon Capital had gone into liquidation,' Ms Ogara told the Daily Mail.
'At first I wasn't sure what I was reading because I had no idea my money was invested in Falcon Capital.
'But after making a few enquiries, I realised more than $500,000 of my superannuation was tied up with them - and I no longer had access to it.
'To say I was in shock is an understatement.'
It was a particularly galling experience for Ms Ogara - one of about 6,000 investors caught up in the $1.2billion collapse of the First Guardian Master Fund and Shield Master in May 2024 -
