A family who were caught up in a sinister scam involving three of Australia’s big banks have described the situation as “sickening” as they lost a staggering $1.1 million.
Cyndy, who asked not to share her surname, said her “typical boomer” parents sold their Sydney home of 30 years making a million dollar profit.
However, the couple who worked as an accountant and nurse, had risen from “incredibly poor villages” living in mountain shacks in Fiji to be the first from their families to put themselves through universities.
Her mum, aged 67 who is a nurse and a breast cancer survivor, and her 70-year-old dad were looking to enjoy their retirement.
Cyndy’s dad was investigating an opportunity to invest their house profits but instead it has turned into “devastation” for the family as they were caught in a bond investment scam.
“My dad is a certified practising accountant, he is well versed in finance, which is another thing that he was able to get scammed, it shows you the sophistication and complexity of these scams,” she told news.com.au.
Cyndy’s dad did his due diligence – checking details with the banking regulator, searching ASIC records, checking employee names on LinkedIn and he even showed the investment documentation to the branch manager of his own bank.
