Scott Pickett to be grilled over $13m First Guardian funding of Rogue Traders
Melbourne chef and restaurateur Scott Pickett will be questioned in a public examination about his dealings with David Anderson, the boss of collapsed super fund First Guardian, including the funding that helped build his hospitality group.
Liquidators from FTI Consulting are seeking answers on Anderson’s oversight of the scheme. They are expected to focus on the decision to waive repayment of the $13 million First Guardian provided to Rogue Traders, the joint hospitality business owned by Pickett and Anderson. The court has yet to set a date, but the liquidators expect the examination to happen by the end of the year.
Pickett is not a defendant in the Australian Securities and Investments Commission (ASIC) case or any other legal matter, and there is no suggestion he had any oversight of the fund.
First Guardian collapsed in mid-2025, wiping out $512 million of super savings held by 6000 people. On Friday, ASIC launched formal court action alleging Anderson mismanaged the fund by spending investor money on pet projects, including the Rogue Traders partnership. It also alleges he used tens of millions of dollars to pay illegal commissions to people promoting the scheme, which the regulator has described as “industrial-scale misconduct”. Anderson is expected to vigorously defend the allegations.
Pickett told The Age in July that he had also been affected by the collapse.
“The collapse of First Guardian cost my business its major financial backer and forced the appointment of administrators,” he said.
“I feel deeply for everyone affected, and I’m co-operating fully with the liquidators.”
How Rogue Traders grew
According to ASIC, Pickett and Anderson set up Rogue Traders in June 2020, and Anderson arranged for it to receive $13 million of investor funds. The cash let Pickett expand during the pandemic, when the wider industry was under severe financial pressure. The group bought Thai-inspired fine diner Longrain and sister bar Longsong, and opened Chancery Lane bistro in a Little Collins Street site. Hatted Collingwood venue Smith Street Bistrot joined in early 2022, and South Yarra’s Matilda, along with catering and related companies, was also folded into the business.
Corporate filings show Anderson was a director of Rogue Traders and of each venue. He resigned from the companies in early 2025 as ASIC investigated the management of First Guardian.
Rogue Traders entered administration in September last year owing creditors $27 million. It was owed $21 million by Pickett’s five restaurants and related companies, including the food prep business supplying his venues. None of the restaurants closed, all staff were paid and vouchers were honoured during the administration. Pickett has since restructured, closed Matilda and exited his venues in the Continental Hotel complex in Sorrento.
Jonathan Jackson, 4th November 2026
