The remaining funds in missing conwoman’s Melissa Caddick’s bank accounts will be drained to pay back some of millions she fleeced from dozens of investors, a court has ruled.
The fraudster, 49, vanished without a trace in November 2020, one day after ASIC and the NSW Police raided her $6.2m Dover Heights home in Sydney‘s eastern suburbs, where her DJ husband and teenage son still live.
Caddick was declared dead four months later after her decaying foot drifted ashore 400km south of Sydney.
Her luxury properties, exotic cars and jewellery are being sold off to try to repay the $30million she swindled from 74 investors as part of a Ponzi scheme, many of whom were friends and family.
The Federal Court ruled on Friday that any money left in Caddick’s multiple bank accounts, credit accounts and shares must be handed to liquidators.
The banks accounts of missing fraudster Melissa Caddick (pictured) will be drained to recover some of the millions she swindled from investors
Barrister Steven Golledge tendered multiple affidavits to the court from liquidator explaining why they needed access to the money.
Federal Court Justice Brigitte Markovic said she was ‘satisfied the orders sought by the receivers can be made’, NCA NewsWire reported.
‘The evidence satisfies me,’ she told the court.
The matter will return to court later this year.
It comes a week after Ms Caddick’s DJ husband told the court he couldn’t take time off work to let liquidators sell the mansion his wife bought with stolen funds.
Former hairdresser Anthony Koletti told the court he saw ‘no purpose’ in receivers having access to the Dover Heights home where he still lives.
Ms Caddick’s husband Anthony Koletti (pictured with his wife) has objected to liquidators selling the couple’s Dover Heights mansion where he still lives
‘I disagree to the access because they’ve been in numerous times – probably five, six, seven, eight times,’ Mr Koletti told the court via video link.
‘I just don’t see the point at this point in time and I don’t have the time.’
‘I need all the money that I can get.’
After claiming he was too busy to let a court-appointed insolvency group inside the property, he said he was ‘trying to support a young child’.
Caddick’s teenage son, who she had with her first husband, is understood to be living at the property with the one-time DJ.
The court previously heard that Mr Koletti had $1.95 in his bank account when Caddick vanished the day after the home was raided by Australian Federal Police.
Mr Koletti also objected to the sale of his Audi R8 convertible sports car, but again he failed to give liquidators any proof that he contributed to the $390,000 purchase in 2016.
Melissa Caddick’s $6.2million Dover Heights home (pictured) could be sold to try and repay the victims of her Ponzi scheme
The car recently sold for $295,000 while Caddick’s black 2016 Mercedes-Benz CLA45 was auctioned for $66,250.
Caddick’s elderly parents Barbara and Ted Grimley also objected to the sale of the penthouse she bought them in nearby Edgecliff.
Their lawyers Robert Newlinds, SC, and John Anderson said the couple contributed $1.1million towards the property, and have an agreed tenancy for life.
After delving into Caddick’s financial records, liquidators discovered the conwoman spent her parents’ cash on luxury holidays, expensive cars and jewellery.
Her brother Adam Grimley said he plans to lodge a claim for the Edgecliff property as well, and said he contributed hundreds of thousands of dollars towards the mortgage.
But receivers say Caddick blew the money on her extravagant lifestyle.
Justice Markovic will respond to Mr Koletti’s claims for both properties on May 3.
Melissa Caddick is pictured during the Australian Securities and Investments Commission and Australian Federal Police raid on her Dover Heights home on November 11, 2020. She vanished a day later
She ruled on last year Caddick had provided unlicensed financial advice between 2012 and 2020 under the Maliver banner.
The Australian Securities and Investments Commission has been trying to recover some of the live savings her clients poured into the scam, which funded her lavish lifestyle.
Investors were scammed out of about $30million before ASIC cottoned onto the racket.
Daily Mail Australia doesn’t suggest Mr Koletti is in any way responsible for Caddick’s fraudulent conduct or had any knowledge of it.
original source: Sydney fraudster Melissa Caddick’s accounts to be drained and share portfolio to be sold off