Trevor Dodd arrived at “retirement” age with a modest but hard-won nest egg only to see it apparently disappear into the ether.
He and his wife Alison invested the $150,000 of cash assets carefully garnered over a working life into a property scheme promoted and managed by the McEwan Group.
Their expectation was it would be returned within two years with a yield of either 90% or 147%.
And that would have almost coincided with Dodd’s 65th birthday to supplement their NZ Super payments through retirement years.
But four years after making their investment, their money has not been returned, they have received no dividend payments and have no firm indication of when they will get their capital back.
Trevor worked professionally as a dancer. “I’m the artistic, emotional type anyway,” he said.
But recent events had become a “nightmare” for him; “it has destroyed our dreams, plans and family inheritance.”