Found Deceased Australia - Melissa Caddick, 49, Sydney, NSW, 12 Nov 2020 #7

[Trooper]

How many millions in the sons trust account? Was it a lazy 4?
This should go straight back into the asset pool...

And this is why people join up in to class action entities... it's why your Dom Calabrio's go into it all guns blazing.. I reckon by the time Calabrio et al and Bridges et al ( the other class action group) and all the solo flyer claimants have combed their intricate and meticulous way thru every cent Melissa ever acquired or found or scraped up or took or stole or lifted there will be absolutely nothing.. zero, nada, zip, left for any member of that family. , the mother, the father , the husband, the son, the brother. Totally stripped and divvied up among the offended 'investors'..

Sounds harsh?.. it 's a harsh game, the money game, not to mention the real estate game.. It's a shark pool, and Melissa gave it all a bad name, and this will be punished , in a subtle way, as well.

 

[SLouTh]

Sounds harsh?.. it 's a harsh game, the money game, not to mention the real estate game.. It's a shark pool, and Melissa gave it all a bad name, and this will be punished , in a subtle way, as well.

BBM
Good assessment of the situation Troop, can you elaborate on what you mean as "in a subtle way" too please.....

 

[Trooper]

BBM
Good assessment of the situation Troop, can you elaborate on what you mean as "in a subtle way" too please.....

The subtle means used in my opinion, will be along the lines of absolute excoriation in the legal sense, as in no leeway given in the class action underway in regard to the return of any residue of assets to the original 'investors'.. I put apostrophe's around that word, because that is exactly what they were not, and exactly what Melissa gave them to understand they were. A woman scammer is considered more reprehensible. This sounds unfair, and it is, but it is what it is. The parents, in their own way will be held somewhat accountable. This is unfair, but it is what it is. They took the money, they lived the life, and now it has to be given back. Ditto, the brother, ditto the husband.

No one is going to take pity on the boy because he may not be able to continue at Cranbrook. That will not find fertile ground with the 'investors', not at any point.

Melissa's death , I submit, wont be making any less the motivation for the 'investors' to take this thing to the limit. If anything, it aggravates the situation.

Melissa made people understand that they have to work at one more thing, finding safe investments for their hard earned income. That everything has to be checked and checked again and that social acquaintances are most likely not going to be the best source of information. This will be irritating to a great many people, including other scammers for whom she has made life difficult, at least, one hopes she has.

 

[SLouTh]

How many millions in the sons trust account? Was it a lazy 4?
This should go straight back into the asset pool...

Totally agree Mr M ..... can you, or anyone remember where this info on the $4M came from?

I just wonder if that money was still there at the time of the raid? Or had it been moved by then? As it seems a lot of money that was in the accounts (the last statement used by ASIC for the raid) had disappeared by the time of the actual raid....

An extra $4 M would certainly help!

 

[Trooper]

BBM
Good assessment of the situation Troop, can you elaborate on what you mean as "in a subtle way" too please.....

Also.. It is my belief that a high number of those 'investors' knew there was some sort of dodgy business afoot. Did it cross their minds that they themselves were the mark? no. I don't think so, but at some level , maybe even unconsciously, yet every now and then, a sudden blast of enlightenment may have shone through. I think they thought every one else in Australia was being skimmed just a little bit, but not them, because Melissa was their up-fronter.

This is merely my opinion.

 

[SLouTh]

Melissa's death , I submit, wont be making any less the motivation for the 'investors' to take this thing to the limit. If anything, it aggravates the situation.

Yes.... They really did need her to answer questions on where the money went.....to assist with the investigation... and to "face the music" so to speak...

I also wonder if ASIC has found that $2M unknown transaction???

 

[SouthAussie]

There is a story here about a defrauded couple who joined in a class action suit against liable entities.

When the suit was finalised (for $12 million) the fees for the administration and litigation came to $11.75 million. A judge overruled the exorbitant fees, but even so the result still allowed the fees to be $8 million.

Everybody takes a big bite of the cake.

Caddick case shows ‘nothing has changed’

 

[minime9]

How many millions in the sons trust account? Was it a lazy 4?
This should go straight back into the asset pool...

Only if the money purely came from MC & not the ex husband AC.

of course anything that MC contributed should be returned to the asset pool asap

 

[Sophist]

WOW SLouTh
Well done on the figures. I’m surprised there is so much to go on considering reports of the paper trail being destroyed in the lead up to the raid. What is true and what is not on her paper is another question.
It has been reported she duped investors of more than $25M so still a lot unaccounted for potentially, we don’t know the amount referred to on 60min in investment. I haven’t seen anything on costs for personal chef, personal trainer (who she duped) spa appts? Costs for AK except something about expensive shoes for him. As to whether the spending escalated in MOO it probably did the longer the scheme went on and the more she could get away with. ASIC raid took $1M in designer goods, she may have had another location for storage but interestingly I saw it reported she was selling her previously worn goods so she was thrifty as well as extravagant. Wondering how AK and parents are still in respective properties. Perhaps insurance is covering them or everything is on hold due to something in the investigation... like lender due diligence not being correct... a third party... just a thought
Does anyone know if AG is still here and assisting with this
Also in MOO... missing funds enough to consider absconding with or hiding out or a third party that may have been assisting that wanted their cut and then some

Thanks South Aussie. I have not had a mortgage since 1997 so I had forgotten about this. Before that, I had an interest only loan.

Thanks South Aussie. I have not had a mortgage since 1997 so I had forgotten about this. Before that, I had an interest only loan.

Lucky you Estelle

 

[Sophist]

I was trying to post the above a day ago but was having a little newbie trouble
So sorry I’m not up to date if anything has been covered or this no longer relevant. Will get up to speed now that reply’s are working again for me

 

[minime9]

WOW SLouTh
Well done on the figures. I’m surprised there is so much to go on considering reports of the paper trail being destroyed in the lead up to the raid. What is true and what is not on her paper is another question.
It has been reported she duped investors of more than $25M so still a lot unaccounted for potentially, we don’t know the amount referred to on 60min in investment. I haven’t seen anything on costs for personal chef, personal trainer (who she duped) spa appts? Costs for AK except something about expensive shoes for him. As to whether the spending escalated in MOO it probably did the longer the scheme went on and the more she could get away with. ASIC raid took $1M in designer goods, she may have had another location for storage but interestingly I saw it reported she was selling her previously worn goods so she was thrifty as well as extravagant. Wondering how AK and parents are still in respective properties. Perhaps insurance is covering them or everything is on hold due to something in the investigation... like lender due diligence not being correct... a third party... just a thought
Does anyone know if AG is still here and assisting with this
Also in MOO... missing funds enough to consider absconding with or hiding out or a third party that may have been assisting that wanted their cut and then some.

Welcome to the never ending twists and turns of this case Sophist. Happy to answer what I can / know as it’s a lot of information to go through when you’re just stumbling on this case.

*A lot of the money trail was discovered through MC Australian bank accounts. She can shred every document in her house, but her bank accounts and credit cards will still have a record of those transactions. I agree that there is still unaccounted funds / assets somewhere though.

*Not too sure about anything owing to the chef. I’d say there’s a good chance she’s been ripped off too somehow imo.

*AK didn’t have joint bank accounts with MC. The only kind of money that he had access to along with MC on a regular basis that wasn’t his bank account was the AMEX card as he was the secondary card holder. I’ve heard that AK’s wage (before Covid) was deposited straight into one of MC’s bank account allegedly, but I’m not sure if this is the case. He did however get to drive the Audi R8 though.

*I also agree her spending escalated in the 2-3 years before ASIC came knocking. She was literally living it up on everyone else’s money.

*I did think that April 7th & 8th was going to be when AK & the parents were given notice to leave but I read somewhere the other day that ASIC needed more time & now it seems the matter is going to be adjourned again? I don’t think they have much longer anyhow.

*AG is still power of attorney but he can’t afford any legal representation to act on MC’s behalf anymore. I suspect he will just be helping the parents mainly from here on.

 

[minime9]

Also.. It is my belief that a high number of those 'investors' knew there was some sort of dodgy business afoot. Did it cross their minds that they themselves were the mark? no. I don't think so, but at some level , maybe even unconsciously, yet every now and then, a sudden blast of enlightenment may have shone through. I think they thought every one else in Australia was being skimmed just a little bit, but not them, because Melissa was their up-fronter.

This is merely my opinion.

Fair analysis imo. They might have thought she was doing some personal tax fraud rather than directly snatching from everyone else’s portfolios.

 

[Sophist]

Welcome to the never ending twists and turns of this case Sophist. Happy to answer what I can / know as it’s a lot of information to go through when you’re just stumbling on this case.

*A lot of the money trail was discovered through MC Australian bank accounts. She can shred every document in her house, but her bank accounts and credit cards will still have a record of those transactions. I agree that there is still unaccounted funds / assets somewhere though.

*Not too sure about anything owing to the chef. I’d say there’s a good chance she’s been ripped off too somehow imo.

*AK didn’t have joint bank accounts with MC. The only kind of money that he had access to along with MC on a regular basis that wasn’t his bank account was the AMEX card as he was the secondary card holder. I’ve heard that AK’s wage (before Covid) was deposited straight into one of MC’s bank account allegedly, but I’m not sure if this is the case. He did however get to drive the Audi R8 though.

*I also agree her spending escalated in the 2-3 years before ASIC came knocking. She was literally living it up on everyone else’s money.

*I did think that April 7th & 8th was going to be when AK & the parents were given notice to leave but I read somewhere the other day that ASIC needed more time & now it seems the matter is going to be adjourned again? I don’t think they have much longer anyhow.

*AG is still power of attorney but he can’t afford any legal representation to act on MC’s behalf anymore. I suspect he will just be helping the parents mainly from here on.

Thanks Minime9
So the family are on borrowed time by the sounds and with possibly insufficient funds to sort through this.
The investors are also in a dire situation.
It’s interesting that her family and her investors didn’t have second thoughts over the years about the supposed fantastic returns or her extravagant lifestyle. I know she duped close contacts, people who perhaps didn’t look too closely but what of the WA surgeon investors I wonder, we haven’t heard too much about them.
Goodness knows why she would ask and convince her own parents to sell and move to a mortgaged property and take $1M from them, what sort of person could do that?
Perhaps she saw this turning out differently?
This case has captured so much attention and yet in some ways there is so little to go on and so little has been said. The police have said very little, the family very little and only a few investors have spoken yet there has been such wide coverage of this case. From Melissa herself we have only the foot, at this stage.
Surely there is more to be discovered

 

[minime9]

Thanks Minime9
So the family are on borrowed time by the sounds and with possibly insufficient funds to sort through this.
The investors are also in a dire situation.
It’s interesting that her family and her investors didn’t have second thoughts over the years about the supposed fantastic returns or her extravagant lifestyle. I know she duped close contacts, people who perhaps didn’t look too closely but what of the WA surgeon investors I wonder, we haven’t heard too much about them.
Goodness knows why she would ask and convince her own parents to sell and move to a mortgaged property and take $1M from them, what sort of person could do that?
Perhaps she saw this turning out differently?
This case has captured so much attention and yet in some ways there is so little to go on and so little has been said. The police have said very little, the family very little and only a few investors have spoken yet there has been such wide coverage of this case. From Melissa herself we have only the foot, at this stage.
Surely there is more to be discovered

I may be wrong about this but I remember reading in one of the early affidavits about the surgeons reporting MC to ASIC a month before or after that investor ran into the other financial advisor at the dentist. I think they realised something was suss. I also believe her ex husband potentially would have been suspicious but that’s just a hunch I have.

As far as her parents go well I think MC was counting on the fact that her parents would have been dead well before the mortgage was paid off. She was also benefiting from the parents as they were tenants of the apartment (not that they were paying rent at regular times) & she could at least claim some losses back via negative gearing. The parents in return gained a $4000 allowance each month & had everything taken care of, until now. Of course she also had the trust set up for her son & paid for his school fees. IMO she still had a child like ability of believing her own lies & living in a selfish fantasy land where she gets to buy jewellery every few months worth 6 figures, go on her annual trips to Aspen & Fiji & continue to keep up appearances to feed her money addiction. I know she told her investors the ridiculous AMP lie of creating a program & getting $85 million from the deal, but I’m not sure if she told her husband and family that as well. I doubt her parents or AK would have suspected much until she got raided & considering how tightly she controlled the money I doubt AK was in on it knowingly or had anything to do with it. Her parents wouldn’t have had a clue either & it seems like AG believed her lies as well. IMO she would have known this would come to an end one day, but she wasn’t going to own up or face the music. IMO she’s passed away or possibly someone else has taken matters into their own hands.

 

[minime9]

This is an interesting twist!


Melissa Caddick’s victims may have case against accountants, say liquidators
By Kate McClymont
April 6, 2021 — 5.00am
found on a remote beach on the South Coast of NSW in late February. A death certificate is unlikely to be issued until the matter comes before the NSW Coroner later this year. The NSW Police have indicated their brief of evidence for the Coroner is likely to be finished in mid-June.

On November 10 ASIC took pre-emptive action freezing Ms Caddick’s bank accounts and banning her from international travel. The following day the Federal Police, acting on behalf of ASIC, exercised search warrants at the eastern suburbs home she bought for $6.2 million using funds she misappropriated from investors.

They also seized designer clothes, handbags, jewellery and other luxury goods she purchased with the proceeds of her criminal activities. Within hours of the police leaving, Ms Caddick, who lived only 150 meters from the clifftops, disappeared without taking her phone or any other personal possessions. Due to the complexity of the movement of investors’ funds which went from Ms Caddick’s financial services company Maliver, into various other accounts controlled by Ms Caddick, the regulator has requested more time.

In an email sent to investors last week, ASIC explained that when the matter returned to court the regulator would seek for Mr Gleeson and Mr Soire to be made receivers, which would give them power to sell Ms Caddick’s properties and to distribute any available funds in Ms Caddick’s accounts.

“ASIC’s approach aims to achieve a return to investors in a significantly shorter timeframe than that involving separate processes of a liquidator being appointed to Maliver and a bankruptcy trustee appointed to Ms Caddick’s estate.”

On March 30, ASIC withdrew the 38 criminal charges against Ms Caddick to allow the civil proceedings in the Federal Court to continue. “ASIC has not yet been informed of a death certificate being issued for Ms Caddick, therefore ASIC has reserved its rights to reinstate the charges against Ms Caddick at a later stage,” said ASIC investigator Isabella Allen in an email to investors.
https://www.smh.com.au/national/nsw...1qEinPhfY5OClsOBvH6MsBDL6YcRwBCPOMR7QIc0ZHb74

 

[Brissie Sleuth]

https://www.miragenews.com/how-tragedy-and-luck-reveals-oceans-hidden-539629/

new article shows how objects can end up far and wide due to ocean currents and three objects were deployed near melissa caddicks final days as part of a scientific trial and all ended up in diff locations

 

[SLouTh]

Some further info re the actual figures, and the hearing has been pushed back to June ...

Due to the complexity of the matter, the two-day hearing which was due to commence on April 7 has been pushed back until June. Investors were hoping that the hearing would clear the way for Ms Caddick’s assets to be sold to recoup some of the $23 million stolen by Ms Caddick.

In a lengthy report completed in February and provided to the more than 60 victims of Ms Caddick, Mr Gleeson and Mr Soire identified $29.461 million from investors which moved through Ms Caddick’s accounts. A further $688,198 is likely to be investors’ funds but further investigations are continuing. More than $7.3 million was repaid to her clients but the bulk of the money was squandered on Ms Caddick’s profligate lifestyle.

According to the report to investors, before she went missing in November 2020 that year Ms Caddick raked in $5.4 million from clients who thought they were investing in shares. In 2019 she took $4.13 million but her most successful year was 2015 when she reeled in $6.279 million.

Melissa Caddick victims may have case against accountants: liquidators (smh.com.au)

 

[SLouTh]

A further $688,198 is likely to be investors’ funds but further investigations are continuing.

I sincerely hope that this paltry sum is the not the "significant" amount in shares that was referred to, in the 60mins program.....

 

[drsleuth]

No Cookies | Daily Telegraph

Melissa Caddick farewelled by family at small memorial service
Conwoman Melissa Caddick has been farewelled in a private memorial service. It comes after the only part of her body that has so far been found — her foot — has been cremated.

Josh Hanrahan and Janet Fife-Yeomans
April 6, 2021 - 1:00PM

Article paraphrased

• Melissa Caddick has been farewelled in a private memorial service, attended by only a handful of loved ones.
• Anthony Kolletti led the small group of mourners out of the West Chapel at the Eastern Suburbs Cemetery in Matraville on Tuesday morning.
• Also there was Ms Caddick’s parents, Barbara and Ted Grimley, her brother Adam Grimley and friends.
• no death certificate & her foot has been cremated.......
• Still classified as a missing person & inquest likely to be held , no date set
• Spend more than an hour commemorating her life behind doors
• Son continues to spend most of his time with AK
• The long awaited Federal Court hearing was scheduled for April 7 and 8, but corporate cop ASIC has now requested more time to allow them to untangle her complex financial affairs.
  
  New dates have now been set down for June 29 and 30.

 

[k-mac]

Looking at those pics Dr S kindly provided, quite the gentleman Anthony is isn't he?
The lady behind struggling to carry that enormous vase of red roses while he carries his keys.

Entitled....IMO the ugliest personal attribute one can have.

moo