Jun 25, 2026 – 9.30amThe financial services regulator is investigating the pay structure at troubled superannuation business Diversa after the firm’s chief executive banked a windfall bonus, even though its systems were used to funnel customers into the allegedly fraudulent First Guardian scheme.The collapse of the scheme in 2024 has cost thousands of Australians their life savings. Around $500 million was siphoned from unsuspecting investors, who were pressured by lead generators and dodgy financial advisers to switch their super into wealth platforms that could invest in it.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles