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 the First Guardian and Shield superannuation funds. Last year, about 12,000 people had their super funds frozen and wiped out, making retirement no longer a possibility, Among them was Mr Joyce’s ex-wife Natalie Abberfield, who told A Current Affair she might now have to work until she is 80. “I went through a licensed, regulated super and now I have nothing,” she said. “I didn’t really want to be working when I’m 80, but at the moment I don’t have anything. Something needs to be done.” Mr Joyce has backed a “pay now, recover later” scheme to help victims. Ms Abberfield is also part of an online community of victims called SOS Save Our Super. “When you’re dealing with people who are going through it with you, it’s a good support network and there’s information there,” she said. “If I didn’t find it, I probably wouldn’t have lodged a complaint with AFCA (Australian Financial Complaints Authority).” Online ads — some of which allegedly used AI — allegedly baited many victims into superannuation health checks, and they were then connected to financial advisers, such as Ferras Mehri from Venture Egg. ASIC alleges these financial advisers convinced people to invest their super in Shield and First Guardian funds. Mr Mehri strongly denied he had done anything unlawful. “I’m deeply sorry. It hurts every single day,” he told ACA. Liquidators allege First Guardian director David Anderson and others siphoned millions of dollars to fund luxury lifestyles, including a $500,000 Lamborghini and a craft brewery. Cash was also allegedly sent to offshore accounts and Indonesia. Macquarie Bank and Netwealth have settled for more than $421m in compensation for their roles. A Federal Court battle still remains. The deadline to make a complaint to the Australian Financial Complaints Authority was recently extended indefinitely.