Found Deceased Australia - Melissa Caddick Missing After Australian SIC Raid - Sydney (NSW) - Nov 2020 #9

[JBowie]

that apartment is now worth about 4 and on a good day, maybe 5 mill

... however, the capital was never paid on it. Caddick had it on a an interest only mortgage, and no interest payments were made since she took the plunge. So, the bank is owed years of back interest, penalties and fees, etc, plus the $2.55 million capital.

 

[Via Marple]

Another article:

The long-running legal battle over the ownership of fraudster Melissa Caddick’s eastern suburbs penthouse has been resolved, with her parents agreeing to vacate the property in return for receiving almost one million dollars.

Apart from an ongoing dispute with Caddick’s husband Anthony Koletti over several items of jewellery, the impending sale of the Edgecliff property will bring to a close the complicated unravelling of Caddick’s affairs.

. . .

Koletti, a hairdresser and part-time DJ, initially wanted millions of dollars from his wife’s proceeds of crime, including her Gucci wedding dress, $7 million in shares, $2 million worth of jewellery, two properties he suggested were valued at $20 million as well as the proceeds from the sale of their luxury cars.

He is now battling over cufflinks and rings, estimated to be worth around $20,000. [bbm]

Melissa Caddick’s parents to move out of $2.5m Sydney penthouse

The impending sale of an eastern suburbs property will bring to a close the complicated unravelling of the fraudster’s affairs.

www.smh.com.au

Also from the same article,

On Monday afternoon Federal Court Justice Brigitte Markovic approved the agreement the receivers reached with the Grimleys, who will remove the caveats on the title once they receive $950,000.

Almost forgot.. yes the caveats on the title. The G's put them on very soon after MC disappeared. They lawyered up very quickly while the other investors were still talking to the media.

Anyway with $950,000 there are still plenty of homes that can be had, even in Sydney..

 

[Trooper]

Also from the same article,

On Monday afternoon Federal Court Justice Brigitte Markovic approved the agreement the receivers reached with the Grimleys, who will remove the caveats on the title once they receive $950,000.

Almost forgot.. yes the caveats on the title. The G's put them on very soon after MC disappeared. They lawyered up very quickly while the other investors were still talking to the media.

Anyway with $950,000 there are still plenty of homes that can be had, even in Sydney..
View attachment 426768

but dahhlingg!! none in the 'eastern suburbs' ! ( by which is meant, Double Bay, Vaucluse, Watsons, Dover heights... ))

 

[SouthAussie]

... however, the capital was never paid on it. Caddick had it on a an interest only mortgage, and no interest payments were made since she took the plunge. So, the bank is owed years of back interest, penalties and fees, etc, plus the $2.55 million capital.

Back in early March, the SMH said that $1.8M was owed on the Edgewood Apt. Maybe Melissa put $700,000 down when she bought the property. Link

As you say, that is likely $1.8M plus back-payments and penalties.

 

[JBowie]

but dahhlingg!! none in the 'eastern suburbs' ! ( by which is meant, Double Bay, Vaucluse, Watsons, Dover heights... ))

I guess returning to Connells Point, whence they came, is out of the question.

 

[Trooper]

I guess returning to Connells Point, whence they came, is out of the question.

Pretty haaaaard to 'go back' to Connnell's after penthousing at Edgecliff. The horror.

 

[they'll get you]

Pretty haaaaard to 'go back' to Connnell's after penthousing at Edgecliff. The horror.

A neat little red brick veneer in Guildford might suffice?

 

[Via Marple]

Given that a good 3 beds apartment in Edgecliff would cost a 4 digit amount of weekly rent, and they have lived there for some 7 years (since 2016?) rent free - getting back almost their entire "deposit" is a very good deal indeed.

My guess is the other investors had not derived as much pleasure, from their years of receiving fake ComSec statements, and nothing else in terms of lifestyle.

 

[Ooohm]

I think Edgewood is a poisoned chalice but that’s just my ignorant and superstitious opinion. Other than that I wish the victimised investors all the best, such as genuine prosperity and good health.

 

[Estelle]

I think Edgewood is a poisoned chalice but that’s just my ignorant and superstitious opinion. Other than that I wish the victimised investors all the best, such as genuine prosperity and good health.

BTW, it is Edgecliff.

 

[Ooohm]

Edgecliff, thanks Estelle.

 

[Via Marple]

Realestate.com is taking over the reporting..
New twist in fraudster Melissa Caddick’s home sell off - realestate.com.au

Interesting bit is, the Receiver is now looking at investors who got their money back from MC.

“We have not finalised our position on commencing potential recovery actions against investors who were repaid their initial investment and the profit from the fictitious share portfolio during the time that Caddick operated the Ponzi scheme.”

 

[JBowie]

Realestate.com is taking over the reporting..
New twist in fraudster Melissa Caddick’s home sell off - realestate.com.au

Interesting bit is, the Receiver is now looking at investors who got their money back from MC.

“We have not finalised our position on commencing potential recovery actions against investors who were repaid their initial investment and the profit from the fictitious share portfolio during the time that Caddick operated the Ponzi scheme.”

Investors have secured $9.8m from her Dover Heights house, $884,000 from jewellery and artworks, and $361,000 from the cars.

... sloppy SMH reporting. That should read Receivers have secured. What investors eventually receive is another story altogether.

IMO, any fictitious profits should be clawed back, as they were paid with stolen funds.

 

[Trooper]

Investors have secured $9.8m from her Dover Heights house, $884,000 from jewellery and artworks, and $361,000 from the cars.

... sloppy SMH reporting. That should read Receivers have secured. What investors eventually receive is another story altogether.

IMO, any fictitious profits should be clawed back, as they were paid with stolen funds.

And not leaving out the sticky and invasive fingers of the Australian Tax Office , who, with what might seem to be a sort of horrid glee will account any payout as a weekly earning and tax on it as if it was earned every week.... The ATO has been sending a phalanx of Taxation chaps along to every minute of each hearing.

The dispersal of funds accumulated, or ' clawed back,' in Sydney vernacular , are a matter for the Receiver, of course, and first claim is the bill from the Receiver who is appointed by the court in the absence of any capability of the claimants to come to an agreement. I am not sure of the hourly fee for the Receiver, except to say that his/her office usually has 4 qualified litigant civil expert lawyers, plus any amount of paralegals, right down to the person who pushes the suitcase full of files around from court to chambers. All expenses met by the claimants first.

 

[JBowie]

The final blue-chip asset from the estate of fraudster Melissa Caddick is set to hit the market after receivers finally settled on the Edgecliff penthouse that was until recently home to her parents Ted and Barb Grimley.

. . .

Once the penthouse has been primped and preened ahead of the marketing campaign, it’s hoped it will secure one of the top sales results in the building. The benchmark is currently set at a high of $5.1 million for the neighbouring penthouse which was sold in late 2018 by former car dealer Neil Sutton to developer John Roth.

The Mirvac-built tower has long claimed a who’s who of homeowners since it was built in the early 1980s, including the late Lady (Florence) Packer and more recently, mining heiress Leonie Baldock.

Melissa Caddick’s Edgecliff penthouse primed for Spring sale

In what is hoped to be the final chapter of the fraudster’s sorry tale of deceit and theft, the last of her blue-chip assets is set to hit the market.

www.smh.com.au

 

[JBowie]

Quite a bit of new information in this SMH article:

Forged signatures, valuable sneakers and missing dresses being held by the husband of missing fraudster Melissa Caddick featured in the latest court stoush as receivers try to wind up the conwoman’s estate.

. . .

On Wednesday, Michael Hayter, the solicitor representing the receivers, expressed frustration over the refusal of her second husband, hairdresser Anthony Koletti, to hand back some of his wife’s dresses.

. . .

from what receivers could ascertain, at least one pair [of sneakers] purchased by [MC] from Christian Dior could be valued at $12,000 if they were in mint condition, the solicitor said.

. . .

Koletti’s claim of guardianship [over MC's son] was disputed by the boy’s biological father Tony Caddick who, according to court documents, wrote to Hayter in January 2022, stating that while Koletti was the boy’s stepfather he had no other legal rights and doubted “Mr Koletti has any idea what he’s doing”.

. . .


Allsop said Caddick’s family was also claiming $8500 from one of Caddick’s bank accounts containing $21,000.

The court also heard Caddick had forged signatures on a self-managed superannuation document.

It is understood she forged the signature of her first husband Tony Caddick to replace him as trustee with her brother Adam Grimley, whose signature she also forged.

Forgeries, footwear and frocks: Fight over fraudster Melissa Caddick’s last assets

A pair of Christian Dior sneakers Caddick bought for her son could be valued at $12,000 if they were in mint condition, a court heard.

www.smh.com.au

 

[Kemug]

My goodness. It makes me glad not to be that rich.

 

[Via Marple]

I have to wonder, if MC was "born to con".

I have no words to describe the hairdresser.

 

[JBowie]

I have to wonder, if MC was "born to con".

When the extent and brazenness of her case first came to light in the media, I said to people that this sort of outrageous behavior doesn't suddenly manifest itself overnight. There's got to be a pattern of dishonesty going back years.

We subsequently learned that in one of her first jobs she was sacked for forging signatures on cheques.

IMO, there must have been indications of her deceptive nature while she was growing up. I find it hard to believe that her parents would have been surprised when she ripped them off.

 

[Luwin]

Not sure if this has been linked previously or available outside of the UK.....

https://www.itv.com/watch/vanishing-act/10a2997/10a2997a0001