Miners super savings stolen from the post

Hundreds of members of the Auscoal Superannuation fund in the Hunter Valley may have lost tens of thousands of dollars each, after a sophisticated mail theft. The coalminers’ superannuation fund said rollover cheques totalling $1.6 million were stolen from a post office near Newcastle. Auscoal said the fraudsters registered a business through the Australian Securities and Investments Commission with a name similar to one of Auscoal's former NSW trading names, Coalsuper. After the cheques were stolen, a bank account was set up and the cheques were honoured. Close to 100 cheques were stolen.