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

[Redrunner]

When ASIC alerted her in August, how did they do that? By phone, email, in person? She had 3 months to clean up computer, social media, whatever. I’m surprised she didn’t take off earlier but maybe she ran out of time.

Love to hear more from the shredding company?

 

[OwlHeart]

When ASIC alerted her in August, how did they do that? By phone, email, in person? She had 3 months to clean up computer, social media, whatever. I’m surprised she didn’t take off earlier but maybe she ran out of time.

Do you think instead of MC having a plan, it was her enabler/s that had the back-up plan?
So she was lured under false pretenses of being looked after, after all, she's running the show for them, she's destroyed the evidence they requested her to and they said after their lawyers ensure she stays out of prison, there is a new scheme they want her to run.

We just need a few million from the stash, you know, to pay off the people who will guarantee your freedom. Why don't you give us the USB etc and we can hurry up and settle this, they'll be looking for you and we don't want anyone to think you've come to harm.

Hurry up Melissa dear so we can get you back home.

???

Imo.

 

[OwlHeart]

Love to hear more from the shredding company?

I thought that for a moment but disregarded it. They were paid to do what they legally do, be a needle in a haystack working out what documents would be important or what was actually true.

 

[BlueViolet]

An interesting read and it’s only 12 pages

ASIC’s approach to enforcement ...

https://download.asic.gov.au/media/1339118/INFO_151_ASIC_approach_to_enforcement_20130916.pdf

 

[Redrunner]

I thought that for a moment but disregarded it. They were paid to do what they legally do, be a needle in a haystack working out what documents would be important or what was actually true.

I am still interested in that. I the know information is long gone, but there are some clever, patient people who can put together anything, paper, disk drives, anything.

Your right, the company had a job to do and just did it. Here's hoping MC didnt cover all her bases?

 

[Redrunner]

Do you think instead of MC having a plan, it was her enabler/s that had the back-up plan?
So she was lured under false pretenses of being looked after, after all, she's running the show for them, she's destroyed the evidence they requested her to and they said after their lawyers ensure she stays out of prison, there is a new scheme they want her to run.

We just need a few million from the stash, you know, to pay off the people who will guarantee your freedom. Why don't you give us the USB etc and we can hurry up and settle this, they'll be looking for you and we don't want anyone to think you've come to harm.

Hurry up Melissa dear so we can get you back home.

???

Imo.

Sounds plausible, I thought as much in my delusional state in this case. So the big question is, who was/is the "enabler?

 

[Estelle]

Psychologically, all MC's investors, AK and family were her "enablers".

 

[Estelle]

KPMG International, a global network of professional firms providing audit, tax and advisory services, have released report highlighting the impact of technology in fraud.

The report, which included investigations of 750 fraudsters across 78 countries, found that technology was an enabler within 24% of the cases analysed. It also revealed that proactive analytics found little success in dealing with fraud, a mere 3% of fraudsters discovered with this approach.

Gmail

 

[Estelle]

I realise that you are trying to find Melissa's accomplice rather than her "enabler" but IMO narcissists work alone. I cannot see MC as a money launderer either (for other people other than herself).

 

[Estelle]

RED FLAGS FOR FRAUD

https://www.osc.state.ny.us/files/local-government/publications/pdf/red_flags_fraud.pdf

"A little fraud soon becomes a large one if left to grow."

Incentive/pressure is a motive a person experiences and believes is non-shareable with friends and confidants.
1. Psychotic: “habitual criminal” who steals for the sake of stealing.
2. Egocentric: Personal prestige, goal achievement.
3. Ideological: Cause is morally superior, justified in making other victims.
4. Economic: Desperate need for money, greed, economic achievement.

Unimpeachable integrity is the ability to act in accordance with the highest moral and ethical values all the time. This is practically impossible, so fraudsters will rationalize:
1. I need it more than the other person.
2. I’m borrowing and will pay it back later.
3. Everybody does it.
4. The company is big enough that it won’t miss it.
5. Nobody will get hurt.
6. I deserve it.
7. It’s for the greater good.

Opportunity is an open door for solving the non-shareable problem in secret by violating a trust.
1. Weak internal controls
2. Circumvention of internal controls
3. The greater the position, the greater the trust and exposure to unprotected assets.

https://www.osc.state.ny.us/files/local-government/publications/pdf/red_flags_fraud.pdf

 

[OwlHeart]

Psychologically, all MC's investors, AK and family were her "enablers".

Out of consideration
for the investors, including MC's family, I won't play the psychoanalyst but I will say a few things about narcissists and the dynamics between them and their victims.

For many victims, their childhood featured a primary caregiver, usually a parent, who was a narcissist.

This resulted in a failure to form a healthy attachment or bond with either the Mum or Dad (or female caregiver/male caregiver) as narcissistic parents are incapable of loving anyone.
They will use the child as a means to get their own needs met, be it praise because the child is smart, sympathy because they neglect the child and it becomes sick (Munchausen syndrome) or an ego-boost because the child is perceived by the narcissist parent to be inferior to them.
These are just a few examples.

So, what happens is the child, never getting from the narc parent the love and validation that they require in order to grow into a functional, emotionally healthy adult, seeks to find that love elsewhere.
The problem is, they still have the need for the narc parents love and end up forming toxic relationships with people who are just like the narc parent, subconsciously thinking that if they can make this person love them, if they can be seen as special in this person's eyes, then they will have finally gotten the love they badly craved and needed in childhood.

Narcissists know how to spot these broken children living in adult bodies. They are predators with the nose to sniff out what to them, is prey. The weak.

How do they sniff out their victims you ask? After all, they're not dogs or of superhuman abilities.

THEY HAD THE SAME CHILDHOOD.

But for reasons highly debatable, the narcissist as a child copied the narc parent or developed coping mechanisms that one could view as stemming from evil. But science is probably better at explaining than religion and that's what they've tried to do by looking at the grey matter of narcissists brains. The part responsible for empathy is usually shriveled compared to the neurotypical or non-narc and the amygdala, the almond shaped emotional regulator is usually smaller too.

These narcissists have defective brains. Their thinking is so damn screwed up and backward and NOT CONDUCIVE TO HUMAN EVOLUTION that they should be diagnosed as intellectually impaired.
Instead, they rule most the world and leave chaos, terror and destruction of body, mind and spirit in their wake.
IMO but parts backed by the study of psychology and scientific research.

 

[OwlHeart]

I realise that you are trying to find Melissa's accomplice rather than her "enabler" but IMO narcissists work alone. I cannot see MC as a money launderer either (for other people other than herself).

Yes forgive me, in my eagerness to express a view I sometimes disregard the definition of words.
I'm basically of the opinion that yes, she was a controlling personality, definitely a narcissist, enabled psychologically to a point, but that someone in a high place/of professional standing, knew what was going on (to some degree) and was possibly involved in her disappearance, whether or not THEY had an accomplice is a good question.

I think at least two people would be involved, for practical reasons first and foremost.

 

[SLouTh]

I noticed a couple of things in slightly older articles from the February hearing...... This deception was in "another league" entirely........ and how did she pull all of this off by herself???? (Someone linked a very good article the other day about this very fact.... )

Melissa made herself a Trustee on each of her Investors Accounts....... Does this cause more legal headaches for Investors to get their money back????? (I don't know the answer here, but assume if her name was on everything it could cause problems?)


Ms Caddick made herself a trustee of her clients’ self-managed super funds and then ensured her investors used the same external accountant and auditor as she used. This made it more difficult for her actions to be exposed. (From SMH)

Ms Caddick, 49, persuaded some clients to take their money out of superannuation funds and invest in self-managed super funds of which she was trustee. She even set up her own self-managed fund using fictitious bank statements and accounts which she also had audited. (From DT)

Also I think the public scrutiny of Melissa's "enablers" is coming.....

Solicitor Michael Hayter, representing the liquidators, foreshadowed public examinations of auditors, lawyers, accountants, family members and related parties who are claiming an interest in Ms Caddick’s assets.(From SMH)

Not one genuine investment or even a single genuine document has been found.... Until now I hadn't fully realized the full impact of that.... she even faked bank statements.....in addition to the Commsec Statements etc

Mr Gleeson, said he could not identify a single genuine document Ms Caddick provided to her investors.

False bank statements, share contracts, share trading statements and documents using the letterhead of CommSec and the Commonwealth Bank have been discovered by provisional liquidators Jones Partners.(From DT)

Melissa Caddick’s trail of ’emotional and financial devastation (smh.com.au)
Melissa Caddick: Lawyers detail how she pulled off alleged scam | Daily Telegraph

 

[SouthAussie]

I noticed a couple of things in slightly older articles from the February hearing...... This deception was in "another league" entirely........ and how did she pull all of this off by herself???? (Someone linked a very good article the other day about this very fact.... )

Melissa made herself a Trustee on each of her Investors Accounts....... Does this cause more legal headaches for Investors to get their money back????? (I don't know the answer here, but assume if her name was on everything it could cause some legal headaches????


Ms Caddick made herself a trustee of her clients’ self-managed super funds and then ensured her investors used the same external accountant and auditor as she used. This made it more difficult for her actions to be exposed. (From SMH)

Ms Caddick, 49, persuaded some clients to take their money out of superannuation funds and invest in self-managed super funds of which she was trustee. She even set up her own self-managed fund using fictitious bank statements and accounts which she also had audited. (From DT)

Also I think the public scrutiny of Melissa's "enablers" is coming.....

Solicitor Michael Hayter, representing the liquidators, foreshadowed public examinations of auditors, lawyers, accountants, family members and related parties who are claiming an interest in Ms Caddick’s assets.(From SMH)

Not one genuine investment or even a single genuine document has been found.... Until now I hadn't fully realized the full impact of that.... she even faked bank statements.....in addition to the Commsec Statements etc

Mr Gleeson, said he could not identify a single genuine document Ms Caddick provided to her investors.

False bank statements, share contracts, share trading statements and documents using the letterhead of CommSec and the Commonwealth Bank have been discovered by provisional liquidators Jones Partners.(From DT)

Melissa Caddick’s trail of ’emotional and financial devastation (smh.com.au)
Melissa Caddick: Lawyers detail how she pulled off alleged scam | Daily Telegraph

I think that being trustee just made Melissa able to 'trade' for her clients on their non-existent self managed superannuation accounts. If she was not trustee, she couldn't do any 'trading' for them on their accounts.

I get the impression they all just handed over their money, and said 'go for it, trade however you want'.
To me, it is a risky business .. playing in the stock market. I am one of the plodders who would rather have a steady and secure little bit of interest.

 

[SLouTh]

I noticed a couple of things in slightly older articles from the February hearing...... This deception was in "another league" entirely........ and how did she pull all of this off by herself???? (Someone linked a very good article the other day about this very fact.... )

Melissa made herself a Trustee on each of her Investors Accounts....... Does this cause more legal headaches for Investors to get their money back????? (I don't know the answer here, but assume if her name was on everything it could cause some legal headaches????


Ms Caddick made herself a trustee of her clients’ self-managed super funds and then ensured her investors used the same external accountant and auditor as she used. This made it more difficult for her actions to be exposed. (From SMH)

Ms Caddick, 49, persuaded some clients to take their money out of superannuation funds and invest in self-managed super funds of which she was trustee. She even set up her own self-managed fund using fictitious bank statements and accounts which she also had audited. (From DT)

Also I think the public scrutiny of Melissa's "enablers" is coming.....

Solicitor Michael Hayter, representing the liquidators, foreshadowed public examinations of auditors, lawyers, accountants, family members and related parties who are claiming an interest in Ms Caddick’s assets.(From SMH)

Not one genuine investment or even a single genuine document has been found.... Until now I hadn't fully realized the full impact of that.... she even faked bank statements.....in addition to the Commsec Statements etc

Mr Gleeson, said he could not identify a single genuine document Ms Caddick provided to her investors.

False bank statements, share contracts, share trading statements and documents using the letterhead of CommSec and the Commonwealth Bank have been discovered by provisional liquidators Jones Partners.(From DT)

Melissa Caddick’s trail of ’emotional and financial devastation (smh.com.au)
Melissa Caddick: Lawyers detail how she pulled off alleged scam | Daily Telegraph

I found the post I was referring to above..... Thanks @Brissie Sleuth

More than 60 names appear on ASIC’s court documents. Some may be dual accounts run on behalf of couples. Let’s assume Caddick controlled 50 accounts in total. It’s tough enough for a small team to manage a fund successfully. It’s why the performance of active managers is so fleeting. It’s even tougher for one individual to successfully manage their own account.

One person overseeing 50 separately managed accounts that need to be traded according to the ‘opportunities presented in the market’? This would be almost impossible. How does a person adequately get across 50 separate accounts in a short period of time to ensure they all receive the benefit of the same change of strategy and the buying and selling is done adequately? They don't

The Lies of Melissa Caddick | Mancell Financial Group (mfg.com.au)

 

[SLouTh]

I think that being trustee just made Melissa able to 'trade' for her clients on their non-existent self managed superannuation accounts. If she was not trustee, she couldn't do any 'trading' for them on their accounts.

I get the impression they all just handed over their money, and said 'go for it, trade however you want'.
To me, it is a risky business .. playing in the stock market. I am one of the plodders who would rather have a steady and secure little bit of interest.

It just seems doubly ridiculous, as there was no actual accounts..... non existent as you say SA .... and no trading at all....

 

[SLouTh]

An interesting read and it’s only 12 pages

ASIC’s approach to enforcement ...

https://download.asic.gov.au/media/1339118/INFO_151_ASIC_approach_to_enforcement_20130916.pdf

This is quite a good read! Thanks @BlueViolet

Interesting that ASIC don't investigate every complaint.....

We carefully consider how to respond to all potential breaches of the law, but we do not undertake a formal investigation of every matter that comes to our attention. We consider a range of factors when deciding whether to investigate and possibly take enforcement action, to ensure that we direct our finite resources appropriately.

I have read rumors that ASIC don't act until the $20M threshold.... maybe its true?? Maybe not??

 

[SLouTh]

Sounds plausible, I thought as much in my delusional state in this case. So the big question is, who was/is the "enabler?

I think there a few professions that will be asked questions regarding this...... But the Bank that gave MC Loans of $6M (combined Dover heights and Edgecliff) should be made answer some hard questions.....regarding proof of income etc...
Not psychological "enablers" as @Estelle has pointed out.... but more of an 'external enabler" if you like....

 

[BlueViolet]

This is quite a good read! Thanks @BlueViolet

Interesting that ASIC don't investigate every complaint.....

We carefully consider how to respond to all potential breaches of the law, but we do not undertake a formal investigation of every matter that comes to our attention. We consider a range of factors when deciding whether to investigate and possibly take enforcement action, to ensure that we direct our finite resources appropriately.

I have read rumors that ASIC don't act until the $20M threshold.... maybe its true?? Maybe not??

You’re welcome, Slouth.

 

[Snooper Dooper]

IMO

Serious Gambling addiction disguised as a bona-fide profession?

Hope Police & ASIC are checking the major gambling sites for any activity, before and after disappearance and balance of any accounts held by MC or PsOI.

Well known addictive personality traits - excessive shopping, personal training, travel & big-noting. Even down to the unscrupulous collecting of frequent flyer points, where every FF point is another free shot of dopamine and where every bank deposit sings a slot-machine-winning-tune that only the addict can hear.

Addictions don't have to be drugs or alcohol.

Link: PubMed Central, Table 1: Addict Health. 2016 Jul; 8(3): 207–209. (nih.gov)

from: Is Pathological Trading an Overlooked Form of Addiction?