A missing millionaire’s mansion and U.S holiday home could be seized by the corporate watchdog after she allegedly lost dozens of investors a total of $13 million in savings.
Melissa Caddick, 49, has not been seen since she left her home at Dover Heights, in Sydney’s east, on November 12 – just two days after authorities raided her home and seized her assets.
A lawyer for Ms Caddick’s brother Adam Grimley told the Federal Court that as part of their effort to recoup the investors’ lost money, a caveat had been placed on her properties by the Australian Securities and Investment Commission.
The businesswoman owned her $7 million home and also a condominium in Aspen – the millionaires playground of the U.S.
Earlier this week the same court heard how Ms Caddick provided for her teenage son and second husband, Anthony Koletti.
David Sulan, the lawyer for Mr Grimley, said on Tuesday that Mr Koletti’s reliance on his missing wife meant he should be entitled to access some of her assets to pay his ordinary living expenses.
Melissa Caddick hasn’t been seen since disappearing from her Dover Heights home more than a month ago. Above, in a 2015 photograph with her husband Anthony Koletti
Ms Caddick is the focus of a missing person’s investigation. A number of investors believe she may have run off
But ASIC’s barrister Stephanie Fendekian slammed that idea, calling the requested amount of $4,880-a-week ‘staggering’.
Ms Fendekian said the amount claimed by the family came ‘without any explanation or evidence’.
The requested amount is far greater than the $800-a-week Ms Caddick permitted Mr Koletti, a former hairdresser and DJ, to have before she went missing.
Mr Grimley’s representatives have since proposed a lower figure, Ms Fendekian said, although she didn’t disclose what that number was.
Ms Fendekian told the court the family had wanted $2,000 a month for income protection insurance premiums ‘without evidence whatsoever… to explain or justify that rather large figure,’ she said.
A further $600 was sought for ‘transport’, Ms Fendekian said. But she told the court: ‘Mr Koletti does not work at the moment.
‘So it’s difficult to understand why such a figure needs to be attributed to transport and the defendant has done nothing to explain that to ASIC.’
But barrister David Sulan for Mr Grimley told the court that the $4,800 figure that ASIC was bandying around was ‘without context’.
A flood of investors have come forward since the mother-of-one’s disappearance hit the headlines.
Ms Caddick also splurged $63,000 on holidays to Fiji, $37,000 on a trip to New York as well as $120,000 on several skiing trips to Aspen. Pictured with her husband Anthony
Ms Fandekian said since Ms Caddick’s mysterious disappearance ‘unsurprisingly distressed’ consumers have contacted ASIC.
They claimed to have up to $13.1 million with Ms Caddick ‘and the majority have not received any funds back,’ she told the court.
Justice Markovic today ruled that she was taking the ‘drastic’ step of appointing receivers over Ms Caddick’s assets – an act that wasn’t opposed by Mr Grimley.
She also appointed provisional liquidators to Ms Caddick wealth management company, Maliver Pty Ltd.
The parties will keep negotiating as to Ms Caddick’s family’s living expenses, with the judge finding Mr Grimley ‘has done the best he can’ in the circumstancse.
Ms Caddick had been the sole shareholder and director of Maliver and her disappearance has the job of securing investors’ money more difficult.
Ms Caddick is accused of misusing tens of millions from investors in Maliver, which included a syndicate of Perth doctors.
An affidavit released to media on Tuesday makes clear just how Ms Caddick is alleged to have misused millions of dollars.
Bombshell claims in court documents alleged that millions in investors’ funds was deposited into Ms Caddick’s bank accounts over a two-and-a-half year period.
She’s then accused of splurging on luxury brands such as Dior and Chanel, overseas holidays, limousines and even protein shakes.
Ms Caddick – above – is seen wearing her pride and joy, a $250,000 necklace featuring an 83 carat black sapphire, which was designed by Stefano Canturi
Court documents have broken down her extravagant expenditure in great detail
An affidavit seen by Daily Mail Australia states that $20 million of investors funds were deposited into her accounts between January 2018 and September 18, 2020.
ASIC opened its investigation into Ms Caddick in September.
The corporate watchdog alleges she would open up fake CommSec accounts for her clients and send them fake monthly reports of how their shares were going.
One investor’s report, provided to Daily Mail Australia, shows him raking in an astronomical 257 per cent return on Macquarie Bank shares.
ASIC’s investigation found Ms Caddick spent an enormous amount of luxury clothes, overseas travel and even protein shakes.
On her American Express card alone, Ms Caddick allegedly spent $229,277 at Dior, $187,000 at Canturi Jewellers, $48,000 at Chanel and $52,548 at Cosmopolitan shoes.
The documents also reveal how Ms Caddick also splurged on holidays to Fiji, New York and Aspen.
Victims of Ms Caddick’s alleged fraudulent activity believe she faked her disappearance as authorities closed in on her.
NSW Police are examining several lines of inquiry.
