Found Deceased Australia - Melissa Caddick, 49, Sydney, NSW, 12 Nov 2020 #6

[drsleuth]

Yes I put MC as being born in 1971.

I think she did the HSC at Peakhurst High (see Childhood article) so add 18 to 1971 and you get 1989 - the year of her HSC. So I assumed she started work the next year in 1990 before her 19th birthday.

She did her HSC in 1988, aged 17......

In the 1988 Peakhurst High Year 12 photo, Melissa Grimley sits in the front row............

No Cookies | Daily Telegraph

 

[Via Marple]

https://www.smh.com.au/national/iag-sells-clearview-20031211-gdhyot.html

NRMA originally in the early 90's had both motor membership and insurance, including life and funds management.

Then it demerged and the financial side became listed as IAG.

IAG then sold the non-insurance side to MBF and the business became Clearview in 2003. (See link)

As far as I can find, there was no corporate finance or broking business within any form of "NRMA".

I stupidly invested some super rollover with them in 1997. After it became Clearview, and years of non-performance in that super fund, I moved that money out. I think their funds management was simply poorly managed.

 

[JLZ]

I’m shocked and saddened to think she might have had to put on a persona of wealth & grandeur to make her an interesting catch, even a ‘cougar’ perhaps, when all that is important in real life is health, happiness, family, dogs (at least to me).

Melissa's tragic choice between fraud and celibacy. For so many reasons, no.

 

[Estelle]

Here's something to complicate the timeline even further: a profile from 1999 saying that Melissa had started work for N*** Investment Management in 1987 (which I'm guessing would only have been possible if she was working during her studies at high school - which sounds unlikely, but maybe there was a work experience program?):

Staff profile for Melissa Grimley, financial planner, as saved by a Trove (archive) snapshot on 13 Nov 1999

*I'm blocking out the names of companies in case they were duped by Melissa; if she conned them, they're victims too.

In 1988, MC did the HSC and went straight to NRMA and in 1989 was trained to be a Money Market Dealer? This appears to be incorrect as in those days NRMA only offered Life Insurance and Funds Management to their clients. The Funds Management was probably short-term investment which offered higher interest than the banks.

WORK EXPERIENCE

1. NRMA Investment Management in 1987, where she was responsible for managing and trading portfolios using money market and debt instruments. I DOUBT THAT THIS IS CORRECT AS NRMA ONLY OFFERED LIFE INSURANCE AND SHORT-TERM MONEY MANAGEMENT FUNDS THEN.

2. Melissa then expanded her career by joining a small Corporate Finance company and

3. then progressed onto a boutique Share and Stockbroking Company as a private client advisor.

I question this claim as it makes it sound as if she bought and sold shares on clients' behalf. When did she get the qualifications and experience to do such a responsible job? She was probably not a private client advisor but given a minor role there as an assistant or even in the back room.

At which one did MC forge the two cheques? Obviously perhaps to get rid of MC after she forged the cheques, the employer gave her a reference?

I am questioning when MC could have done any training or had any experience in shares and stockbroking and for how long before joining Wise Financial Services. She had experience in corporate money dealing, but what else? She could claim ten years" experience in financial markets but that is very different to advising on shares as money market dealing is only a small part of financial planning.

4, Melissa joined Wise Financial Services after 10 years experience (so 1997?) in financial markets. Melissa is an authorised dealer’s representative of Advisor Investment Services Limited, a licensed dealer in securities. As an authorised dealer’s representative Melissa offers services in managed funds, tax minimisation strategies, estate planning, wealth creation, financial planning and Stockbroking facilities via an approved stockbroker

QUALIFICATIONS

1. She has undertaken "graduate"? studies at the Securities Institute of Australia. What did she study there? There are 15 subjects. You could do one course and claim that you are a graduate. ASIC's training register | ASIC - Australian Securities and Investments Commission

2. Member of the Financial Planning Association of Australia.
MC could have been a student member which is free. I used to be a member of FPA because I had a Certificate in Financial Planning having done a short course at Lindfield in Financial Planning in 1986. I used to attend new product launches. But this course did not cover shares. I also had financial planning small computer software. This Certificate no longer exists.
Student - The Financial Planning Association of Australia

3. Currently completing a Masters of Banking and Finance. CURRENTLY COMPLETING

4. Also currently undertaking her Diploma of Financial Planning, CURRENTLY COMPLETING

This resume is something you can put online to promote yourself. When she says she is currently completing the Masters of Banking and Finance and Diploma of Financial Planning, there is no way of checking that she is actually enrolled in those studies (employers do not check if you are enrolled or not) and doing those at the same time would be very time-consuming. They are very demanding courses. Then later she could claim that she completed them when self-employed.

Melissa looks forward to helping new and existing clients meet their financial planning objectives.

13 Nov 1999 - Melissa - Archived Website - Trove

I find it difficult to confirm that MC ever completed those qualifications and see no worthwhile evidence of experience in advising in shares which is a specialised field. I was only licensed to sell superannuation, income protection, insurance bonds, life insurance, term insurance, etc. through National Mutual (AXA) and could only sell their products. A fully qualified Financial Planner is licensed to advise, buy and sell the products of any company. Also they do not actually buy or sell the shares themselves but have to go through a stockbroker. The same with real estate. They might advise you to buy an investment unit to save tax but they do not go out and buy it for you.

I have found it very strange that MC did not actually offer the full range of financial planning services to set up a portfolio of diversified investments for her clients. Instead, she seems to have only concentrated on and recommended that her clients buy shares directly from her once she became self-employed as if she was an independent Stockbroker plus about ten clients put their superannuation through her via her Accountant.

 

[bearbear]

more eastern suburbs fraud...Bondi boomers convicted of $6m fraud

 

[Estelle]

https://www.smh.com.au/national/iag-sells-clearview-20031211-gdhyot.html

NRMA originally in the early 90's had both motor membership and insurance, including life and funds management.

Then it demerged and the financial side became listed as IAG.

IAG then sold the non-insurance side to MBF and the business became Clearview in 2003. (See link)

As far as I can find, there was no corporate finance or broking business within any form of "NRMA".

I stupidly invested some super rollover with them in 1997. After it became Clearview, and years of non-performance in that super fund, I moved that money out. I think their funds management was simply poorly managed.

Thanks. This is what I have been looking for.

She has claimed that she was a Money Market Dealer for NRMA but I could find no evidence that NRMA had such a section.
So it appears that she could have only sold life insurance and promoted their funds management.

 

[Estelle]

When searching for that particular masters degree title (it is not plain MBA) this from Macquarie Uni in Sydney stands out:
MQU Program Finder

Remember that entry requirements were likely different in the 90's, but as of current it says:

RELATED DISCIPLINES FOR PRIOR QUALIFICATIONS
Finance, Banking, Financial Management, Actuarial Studies, Accounting, Economics.

RELEVANT PRIOR WORK EXPERIENCE, PROFESSIONAL CERTIFICATION, OR OTHER RECOGNISED LEARNING
Professional work experience includes roles requiring technical or specialist expertise or managerial / decision making functions with broad knowledge or skills in key concepts or principles in finance, banking, actuarial studies, accounting or economics.

I cannot see how selling Life Insurance and promoting funds management at NRMA would have enabled MC to proceed directly to an MBA. It might have got her into a Bachelor Degree. Even Graduate Certificates and Diplomas would not get MC directly into an MBA. She would have had to convert them into a Bachelor Degree first.

 

[drsleuth]

Thanks. This is what I have been looking for.

She has claimed that she was a Money Market Dealer for NRMA but I could find no evidence that NRMA had such a section.
So it appears that she could have only sold life insurance and promoted their funds management.

Remember Estelle MC claimed alot of things , the problem is sorting out the truth from the lies, I think she was a pathological liar.

What a legacy she has left her poor son & family

 

[HelloJohnny]

I cannot see how selling Life Insurance and promoting funds management at NRMA would have enabled MC to proceed directly to an MBA. It might have got her into a Bachelor Degree. Even Graduate Certificates and Diplomas would not get MC directly into an MBA. She would have had to convert them into a Bachelor Degree first.

I worked in the University sector for more than 25 years. It would be remarkably straightforward for someone to bypass an undergraduate degree and commence a postgraduate Graduate Certificate.

(Of course depending on the University), but if someone presented statements of employment with an accompanying letter detailing workplace achievements, experience, management experience etc. (I’m sure MC could be really creative with that) during the application process it may be enough to get accepted directly into a postgraduate program. Then once graduated, it can be relatively easy to progress from there.

Therefore attaining a Masters Degree without any Bachelor, is not fetched whatsoever. On the proviso that you do a Grad Certificate 1st, a Grad Diploma 2nd, and the Masters 3rd. You can’t jump from from having no undergraduate (bachelor) straight to a Masters program.

But if you have a Bachelor, you can enter a Masters program (without having to undertake a Grad Dip and Grad Cert first).

 

[HelloJohnny]

I worked in the University sector for more than 25 years. It would be remarkably straightforward for someone to bypass an undergraduate degree and commence a postgraduate Graduate Certificate.

(Of course depending on the University), but if someone presented statements of employment with an accompanying letter detailing workplace achievements, experience, management experience etc. (I’m sure MC could be really creative with that) during the application process it may be enough to get accepted directly into a postgraduate program. Then once graduated, it can be relatively easy to progress from there.

Therefore attaining a Masters Degree without any Bachelor, is not fetched whatsoever. On the proviso that you do a Grad Certificate 1st, a Grad Diploma 2nd, and the Masters 3rd. You can’t jump from from having no undergraduate (bachelor) straight to a Masters program.

But if you have a Bachelor, you can enter a Masters program (without having to undertake a Grad Dip and Grad Cert first).

Furthermore, whilst MC may have a history of exaggerating, embellishing, and other fraudulent activities...(in my opinion) she could very well have legitimately applied and have been accepted into a postgraduate University course using just her work experience (as noted in this forum by sleuths) in lieu of a Bachelors degree.

 

[Brissie Sleuth]

ah i thought it was established her qualifications were false?

https://www.google.com.au/amp/s/amp...elissa-caddick-stole-40m-20201204-p56kn8.html

 

[Detective Willy]

Hello fellow Websleuthers,

I visited Watsons Bay this weekend "with my sleuth cap on" and took a stroll along the notorious walk from the Gap towards Dover Heights. I was there with some friends for a planned weekend away so were not there to study what have may have happened to MC but when I knew we were so close I must admit that we could not resist having a look around.

My friends who have casually heard about this story also wondered if she "jumped or not" along this coastline so we were all keen to have a walk along and a "Captain Cook".

At the Gap end of Watsons Bay there are so many CCTV cameras, maybe every 50m so there is no doubt this area was ruled out early as a jumping spot.

Having said that there is a very long walk along that clifftop and coastline - there are so many places that MC could have gone to and disappeared never to be seen ever again. This is a treacherous piece of coastline with shelf rock below and although I must admit I love a conspiracy theory I saw enough this weekend to 99% truly believe that MC ended herself that night.

Such an eerie place and the thought must have crossed her mind many times in the last 10-15 years that she did not want to go to jail after living the high life for so long.

For mine she could not live with the guilt and ended the charade once she had been caught. Game over and feel so sorry for all of the people like us reading this that she ripped off so badly.

 

[Estelle]

ah i thought it was established her qualifications were false?

https://www.google.com.au/amp/s/amp...elissa-caddick-stole-40m-20201204-p56kn8.html

I thought so too but I asked another member on pm to fill me in on MC's previous work experience and she said I had not added her qualifications so I did.

Thanks for reminding me of this as I had forgotten where to find this proof>

Under the heading "YOUR ADVIER'S [sic] EXPERIENCE & QUALIFICATIONS", Ms Caddick also lied about her achievements, including that she had a Masters of Business and was a certified member of the Financial Planning Association.

https://www.theage.com.au/national/...tmlref=rss&utm_medium=rss&utm_source=rss_feed

 

[SouthAussie]

For mine she could not live with the guilt and ended the charade once she had been caught. Game over and feel so sorry for all of the people like us reading this that she ripped off so badly.

Maybe people think that Melissa couldn't live with the guilt because they themselves couldn't live with the guilt.

I think Melissa didn't have a lot of capacity for feeling guilt or shame. Something wrong with her brain-wiring.


Findings indicate that grandiose narcissism was negatively associated with guilt proneness, and the relation between the vulnerable narcissism and guilt proneness was negative.
Guilt and Proneness to Shame: Unethical Behaviour in Vulnerable and Grandiose Narcissism


Narcissist lack empathy which is why they are able to brutally abuse others without any remorse. They do have the ability to show regret as they are able to apologize; however, this is by no means is a signal of remorse.
Remorse is to genuinely feel guilty for their actions. Regret is feeling bad or disappointed.
Do Narcissists Feel Guilty? | DealingWithToxicPeople.com

 

[Estelle]

Hello fellow Websleuthers,

I visited Watsons Bay this weekend "with my sleuth cap on" and took a stroll along the notorious walk from the Gap towards Dover Heights. I was there with some friends for a planned weekend away so were not there to study what have may have happened to MC but when I knew we were so close I must admit that we could not resist having a look around.

My friends who have casually heard about this story also wondered if she "jumped or not" along this coastline so we were all keen to have a walk along and a "Captain Cook".

At the Gap end of Watsons Bay there are so many CCTV cameras, maybe every 50m so there is no doubt this area was ruled out early as a jumping spot.

Having said that there is a very long walk along that clifftop and coastline - there are so many places that MC could have gone to and disappeared never to be seen ever again. This is a treacherous piece of coastline with shelf rock below and although I must admit I love a conspiracy theory I saw enough this weekend to 99% truly believe that MC ended herself that night.

Such an eerie place and the thought must have crossed her mind many times in the last 10-15 years that she did not want to go to jail after living the high life for so long.

For mine she could not live with the guilt and ended the charade once she had been caught. Game over and feel so sorry for all of the people like us reading this that she ripped off so badly.

I have often been to Watson's Bay for a seafood lunch and enjoy the experience. Once I went on a walk near the cliffs and it gave me a very eerie feeling so much so I have never wanted to walk there again.

When I first heard about this case, the obvious assumption one could make was that MC went for a walk at 5.30am and did not return because she suicided. Later, I thought it could have been set up that way by someone banging the front door at 5.30am so that the son would report that but nobody saw her. MC's son was in the gym and AK claims he was asleep.

For mine she could not live with the guilt and ended the charade once she had been caught. Game over and feel so sorry for all of the people like us reading this that she ripped off so badly.

But later again, the media began referring to MC as a narcissistic psychopath. Usually but not always narcissists tell others that they are suicidal but they rarely actually commit suicide.

A "normal" person would suffer from guilt but MC was not "normal". Rarely do they ever suffer any guilt because if they did, they would not have defrauded 68 investors in the first place. Narcissists and sociopaths feel entitled, think the world owes them a living and that they will get away with it. Self-harm would not be something that (from what we have been told about MC), a narcissist would contemplate. But perhaps I will be proven wrong, who knows?

 

[BlueViolet]

It feels like a jigsaw puzzle with a missing final piece. So much has come out from her past but we might never have that final piece for complete closure ... knowing what happened at the end.

 

[imstilla.grandma]

If the story is another cautionary tale in the wake of the shock disappearance of Melissa Caddick in Sydney following allegations that she misappropriated investor funds from family and friends for personal shopping, then the Castle Rock story underlines the risks.
David Hunter Campbell and Castle Rock Global Capital: Sydney investors left chasing $26 million

 

[imstilla.grandma]

Melissa Caddick, an allegedly fraudulent businesswoman whose remains have been found on the NSW South Coast, stole the licence of a former colleague before embezzling at least $13 million from her clients, enabling her to pose as a professional adviser.

“Investors need to do their homework,” says De Gori.

The Australian Securities and Investments Commission operates a financial advisers register that provides details on where an adviser has worked, qualifications, professional body memberships and any banning orders or regulatory reprimands.
How to protect against COVID-19 financial fraudsters

 

[Redrunner]

I cannot see how selling Life Insurance and promoting funds management at NRMA would have enabled MC to proceed directly to an MBA. It might have got her into a Bachelor Degree. Even Graduate Certificates and Diplomas would not get MC directly into an MBA. She would have had to convert them into a Bachelor Degree first.

I think she padded her resume, and talked up her experience in order to move around and work herself up. MOO she frauded maybe more than one business and they let her go, rather than pursing the matter, IMO.

 

[stormbird]

If the story is another cautionary tale in the wake of the shock disappearance of Melissa Caddick in Sydney following allegations that she misappropriated investor funds from family and friends for personal shopping, then the Castle Rock story underlines the risks.
David Hunter Campbell and Castle Rock Global Capital: Sydney investors left chasing $26 million

imstilla.grandma, the Financial Review articles are all paywalled and the previews show only the first sentence or two. I can't find the Castle Rock story anywhere else. Is it something the AFR is breaking today (in which case other reporters might follow it up later)? Thanks.