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

Status
Not open for further replies.
  • #141
Some companies with Receivers & Managers have an independent Media Analyst or Representative. They did where I used to work. No one would want to go on a national TV show and not be prepared.
Of course not but it's not part of their work on the case. It's more like using the case for their own publicity purpose.

Besides, the article didn't say it was $1000 for preparation time. It said $1000 to consider the request to appear. If they happen to receive one hundred requests, that's $100K billable just like that. Get a pet media company to go with your pet ASIC, imagine how much you can suck out of the liquefying corpse of a company by ticking up No--no--no to media requests in lieu of doing the accounting work.
 
  • #142
edited by me for emphasis. ..

Because Mr Gleeson, and Mr Jones are the Receivers.. ( appointed by the court ) .. it is their job to go down every dark alley and twisted lane in their court appointed task of gathering every single debtor Melissa has collected in her life. Going on 60 mins would require quite a bit of discussion , at $700 per 30 mins, ( just for Mr Gleeson ) ..

Once a person, or an entity, like a company or organisation is placed in the hands of the receiver it is very close to the end game. It is then a matter for debtors to claw back what they feel they are owed, and not a matter of the Receiver dispersing monies at whim and at will.

Of course, the poor investors also have to fork out for , say, Dom Calabrio as well.. and the other firm , Bridges, ...if they are joined up in a class action. They actually pay at both rough ends of the pineapple, this is the fate of those caught up in these kind of events.. lose your money, pay for a receiver to work out exactly who lost what, ( because the Receivers fee is paid out of the remnants on the estate. .... like the funeral director , they get first dibs on the money pool ) .. and pay for a barrister to argue your point in court to get back 2 or 3 cents in the dollar.

And Melissa would have known this procedure was the inevitable outcome of her house of cards collapsing. She was business-wise, she probably knew quite a few people who had wound up in the hands of the Receiver during her association with the financial services industry. Certainly she would have heard about a few.
So very true, a merry dance she did.
 
  • #143
All charges against Sydney fraudster Melissa Caddick dropped weeks after foot washed up


Lawyer Emman Farroukh, who is representing the Australian Securities and Investments Commission (ASIC), said withdrawing the criminal charges would enable the civil case to proceed.

"We will seek leave to refile the charges if she does reappear," Ms Farroukh said.

"There are reports that she may be deceased."

According to court documents, ASIC has identified 74 investors who are owed $23 million.

"Most of the investor funds were used … for personal expenses such as the purchase of jewellery, payment of her mortgage, holidays, and the purchase of luxury goods," the documents read.

"There is a significant shortfall in the funds available to be realised of around $15 million."
 
  • #144
All charges against Sydney fraudster Melissa Caddick dropped weeks after foot washed up


Lawyer Emman Farroukh, who is representing the Australian Securities and Investments Commission (ASIC), said withdrawing the criminal charges would enable the civil case to proceed.

"We will seek leave to refile the charges if she does reappear," Ms Farroukh said.

"There are reports that she may be deceased."

According to court documents, ASIC has identified 74 investors who are owed $23 million.

"Most of the investor funds were used … for personal expenses such as the purchase of jewellery, payment of her mortgage, holidays, and the purchase of luxury goods," the documents read.

"There is a significant shortfall in the funds available to be realised of around $15 million."
8 million dollars, divvied up among 74 people. Take out the Receiver fees, the barrister fees, .... all up, each one might... ( and then it's the Tax Office turn to have a go ) .. get about.. um... $108,000.00. Not enough to buy a decent Tesla.. not enough to set old mum and dad up for later on.. Just about enough for 2 terms, plus excursions , = 1/2 a year tuition for the kid at ,not Cranbrook, but maybe Torah college.. ... ... membership for 1/3 year at Tattersalls, nearly a year at the Cruising Club, ... ...
 
Last edited:
  • #145
All charges against Sydney fraudster Melissa Caddick dropped weeks after foot washed up


Lawyer Emman Farroukh, who is representing the Australian Securities and Investments Commission (ASIC), said withdrawing the criminal charges would enable the civil case to proceed.

"We will seek leave to refile the charges if she does reappear," Ms Farroukh said.

"There are reports that she may be deceased."

According to court documents, ASIC has identified 74 investors who are owed $23 million.

"Most of the investor funds were used … for personal expenses such as the purchase of jewellery, payment of her mortgage, holidays, and the purchase of luxury goods," the documents read.

"There is a significant shortfall in the funds available to be realised of around $15 million."
I wonder why/how a criminal case would have posed an obstruction to the civil case/s.
 
  • #146
All charges against Sydney fraudster Melissa Caddick dropped weeks after foot washed up


Lawyer Emman Farroukh, who is representing the Australian Securities and Investments Commission (ASIC), said withdrawing the criminal charges would enable the civil case to proceed.

"We will seek leave to refile the charges if she does reappear," Ms Farroukh said.

"There are reports that she may be deceased."

According to court documents, ASIC has identified 74 investors who are owed $23 million.

"Most of the investor funds were used … for personal expenses such as the purchase of jewellery, payment of her mortgage, holidays, and the purchase of luxury goods," the documents read.

"There is a significant shortfall in the funds available to be realised of around $15 million."

So, the investors might receive about .34c/.35c in the dollar ... less whatever the liquidators fees are.

Which, while disappointing for them, is a lot better than a more 'traditional' .10c or less in the dollar when a company goes bankrupt.
 
  • #147
I wonder why/how a criminal case would have posed an obstruction to the civil case/s.

Often a criminal case goes first. Criminal liability is determined. Then a civil case follows, so it doesn't affect a criminal case outcome.
It is hard to have a fair criminal trial when a civil court has already determined a fraud and is liquidating everything. imo

This is an issue in the Derek Chauvin trial at the moment. The city of Minneapolis has already settled their civil case, and it has been really hard to select a jury who is not affected by that civil case outcome.
 
  • #148
Often a criminal case goes first. Criminal liability is determined. Then a civil case follows, so it doesn't affect a criminal case outcome.
It is hard to have a fair criminal trial when a civil court has already determined a fraud and is liquidating everything. imo

This is an issue in the Derek Chauvin trial at the moment. The city of Minneapolis has already settled their civil case, and it has been really hard to select a jury who is not affected by that civil case outcome.
We could have a judge-only trial if it was as difficult as that.

It's mystifying that the criminal matter has got as far as being listed for a mention before ASIC decided to withdraw the charges. They are also saying that they will refile should Melissa turn up alive--not that they are postponing until after the civil case has been concluded. (Edit: and it's not as if ASIC didn't know there was a civil case in progress!) I wonder if it was a mistake at some level that the criminal case was filed at all and they are scrambling to explain what happened without admitting that.
 
Last edited:
  • #149
We could have a judge-only trial if it was as difficult as that.

It's mystifying that the criminal matter has got as far as being listed for a mention before ASIC decided to withdraw the charges. They are also saying that they will refile should Melissa turn up alive--not that they are postponing until after the civil case has been concluded. (Edit: and it's not as if ASIC didn't know there was a civil case in progress!) I wonder if it was a mistake at some level that the criminal case was filed at all and they are scrambling to explain what happened without admitting that.

I don't think the left hand is talking to the right hand.
ASIC is not coordinating with the police. They are two independent bodies.
I would think that ASIC filed the criminal charges, then the police said "Who would you like us to serve the arrest warrant on? A person who we think in all probability is deceased?"
 
  • #150
I don't think the left hand is talking to the right hand.
ASIC is not coordinating with the police. They are two independent bodies.
I would think that ASIC filed the criminal charges, then the police said "Who would you like us to serve the arrest warrant on? A person who we think in all probability is deceased?"
Can a criminal case begin in the courts without an arrest warrant? Maybe? I don't know.
 
  • #151
Don't get old - if your financial advisor doesn't do you over, your family will.
 
  • #152
Can a member of the public run a license plate check?
 
  • #153
  • #154
  • #155
  • #156
  • #157
Can a criminal case begin in the courts without an arrest warrant? Maybe? I don't know.

SMH says .....

Because civil proceedings cannot start until criminal charges are finalised, it was necessary for ASIC to revoke the criminal charges. Ms Farroukh told the court it was in the interests of justice the Federal Court be able to resolve the matter as soon as possible so investors could recoup any surplus funds.

https://www.smh.com.au/national/nsw...f-assets-sold-court-told-20210330-p57fa6.html
 
  • #158
  • #159
It’s hard for me to think she killed herself as there is no evidence of her leaving, dying or laying deceased.
These are the hardest parts of the plan for a murderer to cover up and they seem to be executed perfectly in the heat of the moment in a disappearance suicide.... unlikeliest outcome. Unless she had help.
 
  • #160
So sorry guys, nothing to do with this case.
To be honest, im starting to think MC killed herself.
IMO, me thinks she may have had a helping hand. But your answer is the simplest and tidiest to understand, and the one which has been carried forward with.
 
Status
Not open for further replies.

Staff online

Members online

Online statistics

Members online
106
Guests online
2,952
Total visitors
3,058

Forum statistics

Threads
632,991
Messages
18,634,627
Members
243,365
Latest member
MrsB25
Back
Top