Missing conwoman Melissa Caddick’s assets to be sold off by liquidators in bid to reimburse fraud victims | #scams | #elderlyscams
The properties, luxury cars and jewellery belonging to accused Sydney conwoman Melissa Caddick are set to be sold off to compensate the victims of her fraudulent scheme.
Bruce Gleeson and Daniel Robert Soire of Jones Partners, the firm in charge of liquidating Caddick’s fraudulent company Maliver Pty Ltd, announced that they planned to reimburse her victims by selling on all her assets.
In a statement provided to 7NEWS.com.au, the liquidators revealed that they are seeking to “Distribute the funds from asset realisations to Investors in accordance with Court directions”.
The firm has their sights on Caddick’s $7 million Dover Heights mansion, the $2.55 million Edgecliff penthouse she gifted to her elderly parents, an Audi R8 sports car, a Mercedes Benz, her national and international shares portfolios and also jewellery she purchased using the stolen money.
Business woman Melissa Caddick, 49, was reported missing by her family in November last year, after the Australian Federal Police raided her home and the Australian Securities and Investments Commission (ASIC) froze her assets amid a fraud investigation.
Three months later, on February 21, her decayed foot washed up on a beach 400km south of Sydney, causing authorities to conclude she had died by suicide.
As well as hoping to sell on the assets, the liquidators are also looking at potentially launching a class action for the victims.
Investigators are looking into claims that Caddick took money off clients by appointing herself as the trustee of their self-managed superannuation funds.
If this was the case, the professionals involved in preparing and auditing the financial statements would be at the centre of the class action, according to Jones Partners.
“Such possible claims would need to be further evaluated, but are likely to be against the auditor and potentially other professionals involved in the audit process and may possibly take the form of a class action,” they said in the statement.
The victims might also get a tax refund because the tax statements submitted by Caddick were incorrect as she lied about her profits.
“We are also investigating other possible claims, including whether there may be an opportunity to claim taxation refunds from the Australian Taxation Office as a significant majority of the taxable income of the Company was fictitious,” wrote Jones Partners.
The liquidators are due in Federal Court on June 29 and 30 to argue their case.
ASIC has identified more than 60 investors who are owed $23 million from the missing conwoman.
The victims were “lured” into handing their money over to Caddick, by being promised it would be invested for a big profit return.
Instead of investing their money, Caddick blew it on a luxurious lifestyle with designer clothes, overseas holidays, jewellery and expensive cars.
In March, ASIC dropped criminal charges against Caddick, allowing the civil case to go ahead with a chance of compensation for the numerous victims.
However, should Caddick turn out to be still alive (albeit without a foot), criminal charges will be laid again.
What about her family?
The push for compensation raises questions about what will happen to Caddick’s son, her husband Anthony Koletti and parents Barbara and Edward Grimley, who currently reside at the two properties.
In December last year, Koletti begged the Federal Court to unfreeze his joint bank account that he shared with Caddick, claiming he was in dire straits financially.
He claimed he had just $1.95 in his bank account after his wife did a runner.
Prior to the fraud being exposed, Caddick’s son and husband were given an allowance to spend $800 a week, The Daily Mail reported.
7NEWS.com.au asked Jones Partners what would happen to Caddick’s family if their bid to sell on her assets was successful.
They said there would be opportunities for “interested parties” to object.
“If the proposed Orders are made, they will set out a regime for us as Final Receivers to deal with the properties at Dover Heights and Edgecliff,” the statement said.
“The Orders will provide a mechanism for interested parties to put forward objections.
“If objections are received, then we will need to obtain further directions from the Federal Court in seeking to progress realising the above properties.”
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