NSW Police, fraud squad to widen investigation into Melissa Caddick

The investigation into the disappearance of Sydney businesswoman Melissa Caddick is about to change gear with the Financial Crimes Squad ready to lead a fraud probe.

A crack fraud squad will take charge of the investigation into Melissa Caddick’s multimillion dollar swindle in a determined bid to track down the missing woman.

It will mark a significant boost in the police response to Ms Caddick’s mysterious disappearance and likely lead to a warrant being ­issued for her arrest.

The 49-year-old has not been seen since the Australian Securities and Investments Commission raided her mansion in Dover Heights in Sydney’s eastern suburbs on November 11.

Melissa Caddick has been missing for 13 weeks.

The mother-of-one learned that day she was the target of an ASIC-led probe into how she used another person’s financial services licence to run her boutique finance firm, Maliver.

After the officers left her home that night, she vanished.

Over the past 13 weeks disturbing allegations have emerged that she ripped off tens of millions of dollars from clients and close friends.

To date, Ms Caddick’s vanishing act has been treated as a missing persons investigation and detectives have been restricted by how far they can take the case.

The investigation has focused on trying to figure out where the Cranbrook School mum went, seizing and watching hours of CCTV footage, following up tip-offs and sightings and interviewing family and friends.

ASIC and AFP raiding Ms Caddick’s home office on February 11. Picture: NSW Police

At the same time ASIC, which largely deals with breaches of corporate law and cannot prosecute frauds, has led a wide-ranging probe into how Maliver operated.

But technically, there is no criminal investigation under way.

Despite the evidence to support allegations of breathtaking embezzlement aired in the Federal Court and by Ms Caddick’s angry clients, she is not a wanted woman.

That is set to change.

The Saturday Telegraph understands ASIC has agreed to hand over evidence of alleged frauds committed in NSW to the Financial Crimes Squad.

That will force the creation of a second strike force that will focus solely on Ms Caddick’s alleged criminal behaviour.

The offences NSW detectives are expected to look at include dishonestly obtaining advantage by deception and forgery.

Mr Koletti and Ms Caddick were married for seven years. Picture: Facebook

Much of the evidence already exist, with at least two former ­clients already making official ­reports to NSW Police regarding Ms Caddick’s bogus trading ­account statements.

Ms Caddick spent hundreds of thousands of dollars on luxury holidays and designer clothing at the same time $20 million in clients’ funds passed through her accounts.

An officer close to the case said the creation of a criminal ­investigation would also give police greater scope to issue search and arrest warrants and gather evidence.

“The missing person strike force will still be run out of the eastern suburbs but it will focus on finding out what happened to Melissa,” the officer said.

“The fraud investigation would focus on the alleged offences. It makes sense for financial crimes to be involved. They have the relationships with ASIC and banking sector.”

Melissa Caddick's Dover Heights home. Picture: Damian Shaw

As it stands, Ms Caddick is a free woman and there would be no authority to arrest her even if police did track her down.

Police have only been able to search Ms Caddick’s home and phone because of the permission of her husband, DJ-turned-hairdresser Anthony Koletti.

Police were initially told that Ms Caddick left her home about 5.30am on November 12 to go for a run and left her phone and wallet behind.

Ms Caddick with husband Anthony Koletti. Picture: Facebook

But there was no sign of the avid traveller in CCTV footage from around the Dover Heights area.

As a result, the last known sighting of Ms Caddick was wound back to when ASIC ­investigators saw her during the raid the night before.

She was wearing black gym clothes when officers searched her home office — the same clothing that Mr Koletti said she was wearing when she went for a run 12 hours later.