KEY POINTS:
Just when Caplen Hall thought things couldn't get worse, they got worse.
When Mr Hall and his wife Connie spoke with the Weekend Herald in December, the couple were still reeling from the loss of almost $330,000 in life savings.
But in the past nine months, things have become even more grim, with Mr Hall losing a further $165,000 in the Hanover Finance collapse.
"Connie has lost $144,000 [in the Nathans Finance and Hanover collapses] ... I have lost $425,000."
That's a grand total of nearly $570,000.
Mr Hall says it was with the Hanover debacle about three months ago that months of back-to-back losses began to take their toll on him.
"I took everything in my stride until Hanover ... Then I thought, `Oh, my goodness, we are just about ruined'.
"I am 85 now, and my health is not as good ... I have just had a stroke, about two months ago. That slowed me down considerably."
Though he can't be sure, he puts the stroke _ which put him in hospital for six days _ down to stress, and the threat of financial ruin.
"I have worried about it ... I don't know whether that may have even caused me to have my little stroke. I have been well for 85 years, then all of a sudden, bang."
Mr Hall _ a former merchant seaman and engineer _ has little faith in claims by Hanover chiefs that investors will get their money back.
"They said they would put money in to save investors, but we haven't seen anything as yet."
Mrs Hall said the losses had left her feeling "resigned" despite "conciliatory letters to keep calm".
The couple _ widow and widower from first marriages, who married five years ago _ are confident they will stay afloat, but they will have to make a few cutbacks.
Gone are the trips Mr Hall used to make to visit his daughter in the United States, and there will be no flash Petricevic-style Porsche for them; the Albany-based couple will stick with their modest Honda four-wheel-drive.
"We won't starve. We have still got a little bit spread out _ as long as they don't go phut, as well," Mr Hall says.
"It's disappointing to know that all our life savings have gone down the drain, when we could be enjoying ourselves a bit more."
Mr Hall also feels guilty he let his wife invest in finance companies, only to wind up "back on the breadline, herself".
"I feel it's all through bad management that these companies have failed."
Thankfully, Mr Hall no longer has money invested in finance companies, and has decided he will be sticking with the "more reliable" trading banks.
"It's not as exciting, but you feel safer."
Mr Hall is not sure what he would say, given the opportunity to confront the finance house bosses.
"I think I would say they have not been honest with us, with the investors."
He remembers the day a letter arrived from Bridgecorp _ with which he had $77,500 invested _ promising the imminent payment of an interest amount. He is still waiting for it to arrive in his bank account.
"That is real fraud."
WHAT THEY LOST
MR HALL'S INVESTMENTS
- Bridgecorp $77,500
- Nathans Finance$123,000
- VTL Group Holdings$10,000
- Capital + Merchant$50,000
- Hanover Finance$165,000
MRS HALL'S INVESTMENTS
- Nathans Finance$69,000
- Hanover Finance$75,000
TOTAL $569,500
