First Guardian boss grilled over missing millions

David Anderson has fronted the Federal Court in Melbourne over the First Guardian superannuation collapse involving hundreds of millions of dollars in missing funds. ASIC alleges Anderson invested superannuation funds from thousands of Australians in companies he was associated with, using investor money for personal benefit including mortgage payments on his mansion. Anderson admitted in court he was able to personally withdraw investor funds with only two-party authorisation.See omnystudio.com/listener for privacy information.