Elderly couple seeks justice from AMP after rogue adviser A RETIRED couple who lost their life savings after taking advice from a rogue investment adviser say they have been left high and dry by one of the country's leading financial institutions. After more than 50 years of scrimping and saving, Antonio and Francesco Gargano dreamed of a relaxed retirement but say they have been left virtually broke after investing their money with AMP. They say the financial adviser appointed to look after their affairs covered up bad investments and led them to believe they were earning up to $10,000 a week in interest. Instead they say they lost more than $150,000. The adviser was last year banned from acting as a financial adviser for six years after an ASIC investigation into his conduct involving 35 AMP clients. ASIC found that he had arranged the early release of superannuation benefits to 35 clients between August 2010 and November 2011. It is not known if ASIC investigated the handling of Mr and Mrs Gargano's affairs. Frank Gargano said his parents were never told about the investigation and didn't know their money had gone until they were appointed a new adviser. He said Simon Turudia had told his parents that they were earning huge amounts of interest and sent them regular cheques, depleting their hard-earned capital to keep up the charade. "They'd never had a financial adviser so they trusted someone they thought was honest and reputable," Mr Gargano said. He said his parents, who came to Australia from Italy in the 1950s, spoke limited English but made it clear to their adviser they only ever wanted to access their interest. He said they had been left stressed, exhausted and ill over the ordeal. "They have worked hard all their life and were supposed to be enjoying this time," he said. They had planned to go overseas this year. It would have been dad's first trip back to Italy since he came to Australia. But now that can't happen. Mr Frank Gargano said his parents had spoken to lawyers at Slater & Gordon who were investigating legal action after 12 months of attempts to negotiate with AMP failed. But after being contacted by the Herald Sun last week, an AMP spokeswoman said the company would be making an offer to the Garganos this week. She said the company was confident the offer would be "fair and reasonable."