According to a recent report, a loan theft in Australia has been called as the biggest superannuation crime in the history of the country.

Two people, Canadian-born Richard and American–born Liu, were scrutinized for their alleged involvement in the $123 million scam of superannuation of finances in the NSW Supreme Court.

The Trio Company’s Director along with other associate Companies in a clandestine loan was highlighted.

The loan was reportedly granted to a Wollongong financial planner. In 2008, the planner had been dismissed for life due to this reason.

The Finance Manager, Shawn Richard, was thoroughly interrogated by the corporate regulator regarding his association with the loan.

But, the regulators were not able to realize the scale of the theft, then.

Liu worked in Taiwan while Richard worked in New York, initially. When they came to Australia they became financial managers and Directors of certain renowned Companies.

Both of them started their carrier with menial jobs and learned the nuances of finance industry from their bosses, who worked on million dollar contracts.

Richard had started out from scratch but he achieved a lot of success in his life. He revealed at a Sydney court that at the age of 26 he had nothing.