Norma's story

My husband and I are retired. Three years ago we were advised to roll over our super into an investment fund to give us financial security.

We consulted a licensed financial adviser and it was suggested we gather up as much as we possible could and put it into the mezzanine scheme. Of course, never having done anything like this before, we put our faith in the hands of the adviser to guide us in the right direction and give us a decent monthly return from the investment. In actual fact, we TRUSTED him to guide us without any danger of losing all that we had. Not at any time were we advised that what he was suggesting was a high-risk investment, otherwise I would not have agreed to doing it. I am not a risk taker.

Because we went through an adviser and we are not everyday investors, we didn't read the business section of the newspapers so we had no idea what was going on until this all happened. Now it is too late to do anything about it. It seems all is lost.

Eight months ago I underwent major surgery for a very aggressive cancer, which has cost me my voice box, and as I was going to be needing long-term treatment, once the operation was over I contacted our adviser to see if it would be at all possible for us to redeem our money. He suggested that it wasn't a very good idea as it was due to come to us on December 31, 2005, so perhaps it might be best to wait.

He did also say he could go to Westpoint (reluctantly) if I got a letter from my doctor stating what my illness was, etc, but he didn't hold much hope of us getting it earlier than we should.

To cut a long story short, what money I had saved had to be used for the medical treatment and other needs over the past eight months. Now we have lost the $125,000 we invested, which was every cent we had. So where does that leave us and others like us while the big boys line their pockets and can't be touched because the law allows them to put caveats on their assets? It's no different to stealing, and they are allowed to get away with it!!!

Please don't use my name if you decide to publish any of this. I would like to remain anonymous. As if the cancer wasn't bad enough '” now we have to spend our "golden years" struggling for every cent we get. This was our retirement fund and meant to make our life a little less stressful. It's something I could well do without, especially with my health as it is. This is the worst nightmare ever!!!!!! And where will it all end? Again, I hope I have not breached any laws in sending this email.