The family of conwoman Melissa Caddick has been informed her exotic cars, luxury properties and expensive jewellery will be sold off, as liquidators try to recoup some of the $30million she swindled from victims – many of whom were friends and relatives.
Formal notice was given to her parents, husband and brother on Wednesday after a Federal Court this week declared the assets of the mother-of-one, who vanished on November 12 last year, should be distributed to duped investors.
Solicitor Michael Hayter, acting on behalf of court-appointed liquidators confirmed to the Sydney Morning Herald: ‘I have been instructed to immediately issue notices,’ and that the family now have just 15 business days appeal the decision.
The family of conwoman Melissa Caddick (pictured) have been informed her exotic cars, luxury properties and expensive jewellery will be sold off, as liquidators try to recoup some the money for her victims
As an ASIC investigation closed in on her $30million scam, Caddick left her luxury $6.2million Dover Heights home in Sydney’s eastern suburbs (pictured) for a dawn run and vanished
Justice Brigitte Markovic ruled on Monday that Caddick had provided unlicensed financial advice between 2012 and 2020 under her company Maliver.
The Australian Securities and Investments Commission have been trying to recover some of the live-savings her 72 clients poured in the scam, which funded Ms Caddick’s lavish lifestyle of luxury clothes, real estate and overseas holidays.
Investors were scammed out of about $30million before the financial watchdog cottoned onto the Ponzi scheme and raided the 49-year-old’s home last year.
Justice Brigitte Markovic ordered Maliver should be wound down, with what’s left of the company to be divvied up between those who are owed money.
The ruling will mean her hairdresser husband Mr Koletti, who drove a $300,000 Audi R8 sports car, is to be booted out of her $6.2million Dover Heights home in Sydney’s eastern suburbs.
Justice Markovic ruled Caddick bought the property with investors money in 2014.
Daily Mail Australia is not suggesting Mr Koletti is in any way responsible for the scam or had any knowledge of it.
Financial adviser Melissa Caddick is pictured with her husband Anthony Koletti in Aspen, Colorado, during a ski trip
Koletti is pictured with his $300,000 Audi R8 at McMahon’s Point on Sydney’s lower north shore
The other property in Caddick’s name is an Edgecliff penthouse snapped up in 2016.
Her parents, who were also victims of the fraud, have lobbied the court to be given priority over other investors as they gave their daughter $1.1million for the purchase.
Under the deal they would get to live in the home rent-free for the rest of their lives, owning a third of the property.
The matter will continue before the court as liquidators gave evidence, their money was actually spent on a ‘diamond ring’ and her extravagant living expenses.
Caddick handed over a $255,000 deposit in 2016, representing 10 per cent of the $2.55million home.
Liquidators say the cash came from funds stolen from investors.
Caddick is pictured during the ASIC-AFP raid on her Dover Heights home on November 11
They argue that dirty money was also used for the settlement fee and the interest-only loan repayments.
The court heard the $1.1 million given to their daughter came from the sale of their Connells Point home the following year in 2017.
‘The Edgecliff property was purchased by Ms Caddick before the Connells Point property was sold,’ court-appointed liquidator Bruce Gleeson, from Jones Partners said.
‘Therefore, Ms Caddick’s parents did not contribute to the purchase price for the Edgecliff property.’
Ms Caddick is likely dead after her foot washed up on a Bournda Beach, south of Tathra in in February – about 400km from her Sydney home where she was last seen.
She went missing the day after ASIC fraud investigators descended on her home office in November, 2020.
The Federal Court on Monday declared the mother-of-one (pictured), who vanished on November 12 last year, had provided unlicensed financial advice between 2012 and 2020 under her company Maliver
Ms Caddick is likely dead after her foot (pictured) washed up on a Bournda Beach, south of Tathra in in February – about 400km from her Sydney home where she was last seen
Most of her victims were family and friends who trusted her to invest their money.
‘Instead, (the funds) were used to meet Ms Caddick’s personal expenses and purchase assets in her name,’ Justice Markovic said.
Her unsophisticated but elaborate scam used a bogus CommSec document to claim her investors were making remarkable returns.
In reality the money was never being paid into any investment vehicles with ASIC uncovering she spent the funds buying up luxury clothes, lavish getaways and even forking out thousands on protein shakes.
On her American Express card alone, Ms Caddick allegedly spent $229,277 at Dior, $187,000 at Canturi Jewellers, $48,000 at Chanel and $52,548 at Cosmopolitan shoes.
The documents also claimed Ms Caddick splurged on holidays to Fiji, New York and Aspen.
The Ponzi scheme victims Melissa Caddick (pictured with husband Anthony Koletti) may finally get some justice as a judge ruled her multi-million dollar Sydney home and investment firm should be handed over to receivers
WHAT MELISSA CADDICK ALLEGEDLY SPENT MONEY ON
Court documents obtained by Daily Mail Australia break down how Ms Caddick spent her millions.
According to an affidavit by an ASIC investigator, expenses from her American Express account alone from December 2017 to August 2020 include:
$187.650 Canturi Jewels
$52,584 Cosmopolitan Shoes
$39,757.69 Net A Porter
$108.586.45 ‘Flight Centre’
$17,777.23 Louis Vuitton
Based on the liquidators’ report, the court found investors were owed $23,554,921.
That figure is subject to any potential ‘unjust enrichment or uncommercial transaction’ claims related to Ms Caddick paying out returns that were fictitious or possibly inflated.
Maliver, whose sole director was Ms Caddick, traded on another person’s Australian Financial Services Licence and neither the company nor Ms Caddick ever held an AFSL while providing a financial service, the judge found.
That breached the corporations act.