The outrageous lies of Sydney conwoman Melissa Caddick have been exposed as details emerge of her shameless deception of even her own parents to pay for her luxury lifestyle.
Her mother and father gave her $1.154million towards a new penthouse flat they thought would be theirs for life – but Caddick spent the cash on a diamond ring.
Caddick also told one investor the dog had eaten her cheque and she needed a new one made out to a different name – because the original would have exposed her scam.
A Federal Court judgement has revealed how Caddick – who vanished on November 12 last year until her dismembered foot washed up on a NSW south coast beach in February – stole $23, 554, 921 from 72 investors with an elaborate series of lies.
The scam was branded a Ponzi scheme – where unwitting investors are paid ‘interest’ from the deposits of other new investors – by Justice Brigette Markovic on Wednesday.
The outrageous lies of Sydney conwoman Melissa Caddick (pictured) have been exposed as details emerge of her shameless deception of even her own parents to pay for her luxury life
The judgment said investor Sue Coetzee sent Caddick a $450,000 cheque correctly made out to a CommSec account in July 2019.
However, Caddick secretly had no CommSec account and so therefore couldn’t deposit it.
Caddick, 49, told Ms Coetzee: ‘Sue, I am very sorry but my dog has somehow gotten a hold of the cheque you gave and chewed it up, I won’t be able to deposit it.’
Instead she got Ms Coetzee to send her a new cheque made out to Caddick’s firm Maliver, which Justice Markovic said was Caddick’s ‘alter ego’ used as a front for her scam.
Ms Coetzee had invested $900,000 with Caddick – but after the fraudster disappeared, she visited the bank and realised she had no CommSec accounts, leaving her with almost nothing.
Caddick’s parents sold their home and gave the proceeds to Caddick towards a spectacular penthouse flat in Sydney’s Eastern Suburbs (pictured)
Caddick had already bought the Ocean St unit (pictured) with other investors’ cash in November 2016 and her accounts revealed she spent her parents’ money on a diamond ring
Caddick’s parents were also victims, selling their home in Connell Point in April 2017 and giving the proceeds to Caddick to pay for a spectacular penthouse flat in Sydney’s Eastern Suburbs.
Barbara and Ted Grimley gave their daughter $1.154million with the promise the $2.5million Edgecliff home would be theirs for life, even though it was in Caddick’s name.
But Caddick had already bought the Ocean St unit with other investors’ cash in November 2016 – and her accounts revealed she spent her parents’ money on a diamond ring.
‘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.’
Hairdresser husband Anthony Koletti, seen here with Caddick, who drove a $300,000 Audi R8 sports car, is set to be booted out of her $6.2million Dover Heights home
They now face being thrown out into the street as a legal row rages over the financial mess mother-of-one Caddick has left behind.
Receivers have been appointed to liquidate Caddick’s estate, including the Edgecliff unit, Caddick’s luxury family home in Dover Heights and a ski lodge in Aspen, USA.
But receivers cannot sell the property without court approval and a ‘contractor’ appointed on Caddick’s behalf insisted the sale should be delayed until after the inquest into her disappearance, in case she turned up alive.
‘In my opinion, the evidence establishes that Maliver was a vehicle through which Ms Caddick operated and was able to perpetrate a fraud on investors,’ Justice Markovic said.
Barbara and Ted Grimley (pictured) gave her $1.154million with the promise the $2.5million Edgecliff home would be theirs for life, even though it was in Caddick’s name
‘That is, it was a sham or façade adopted to conceal the reality and was used by Ms Caddick for that purpose.’
But she said the receivers needed to proceed ‘with caution’.
Formal notice was given to her parents, husband and brother on Wednesday of an intent to sell off Caddick’s assets by solicitor Michael Hayter, acting on behalf of court-appointed liquidators.
He 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.
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 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 life-savings her 72 clients poured in the scam, which funded Ms Caddick’s lavish lifestyle of luxury clothes, real estate and overseas holidays.
The financial watchdog cottoned onto the scam and raided the 49-year-old’s home last year, prompting her sudden disappearance the following day.
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 Anthony Koletti, who drove a $300,000 Audi R8 sports car, is set 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
Caddick is pictured during the ASIC-AFP raid on her Dover Heights home on November 11
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.