11/09/2026
Here’s just another reason to not trust superannuation.
It’s full of grifters that prey on unsuspecting people.
It’s impossible for ASIC the government regulator, to keep up with the corruption that pooling $4 trillion dollars creates.
The story happens time and time again yet there are no protections for victims who have their money stolen.
If you want greater control over your money sign up today at PeopleFirstParty.au
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“A Queensland woman who invested all her retirement savings into a little-known property fund, checked with the corporate watchdog before handing over her money and was told everything looked fine.
Before taking the plunge and handing over the $310,000 she and her husband had saved over their working lives, Ms Fisher did one final check. She called the one place she felt she would get a clear, unbiased answer: the Australian Securities & Investments Commission.
"They're going to take all of our super, it's quite nerve-wracking," Ms Fisher said on the call. The Australian has obtained a copy of the recording.
The ASIC representative confirmed the GCPF was registered and licensed by United Global Capital. All looked as it should. No suspensions, no red flags.
"Do I need to do any other research or is what I'm doing with you the best," Ms Fisher asked.
"I don't know if there's a specialised super search you could do. As long as they're registered and they're licensed to deal in superannuation, that's pretty much all you can check, as far as I'm aware," the ASIC
All up, the fund raised about $93m from more than 500 investors between 2019 and 2024. By the end, most of the money was gone, blown on failed property projects, referral fees and management costs paid to a related entity.”
