Melissa Caddick: Missing millionaire’s husband reveals he has just $1.95 in the bank

The husband of missing woman Melissa Caddick has detailed how he has struggled since she disappeared five weeks ago and her bank accounts were frozen.

The husband of missing millionaire Melissa Caddick has revealed he has just $1.95 in his bank account.

Anthony Koletti has detailed how he has struggled since Ms Caddick disappeared five weeks ago and her bank accounts were frozen as part of a multimillion-dollar investigation by the corporate watchdog ASIC.

His bank account tendered to the Federal Court shows a balance of just $1.95 as of December 4 with his last purchases being $44.95 at Rose Bay Coles and $55.75 at Supermart Rose Bay as well as regular payments to PayPal.

The part-time hairdresser who hasn’t worked since Covid struck in March, said he has no assets of his own while the cost of paying home loans, insurance, food, the cleaner, $60 for cigarettes and counselling for himself costs $21,612 per calendar month.

Then there s $2000 insurance for Ms Caddick’s Mercedes and upfront school fees of $66,000 for her teenage son.

Anthony Koletti and Melissa Caddick who went missing from her Dover Heights home five weeks ago.

Mr Koletti said he is afraid electricity, gas and water could be cut off if the Federal Court does not increase the $800 a week he has been allowed for living expenses.

“We are instructed that Mr Koletti was last employed on a part time basis as a hairdresser until the COVID-19 lockdown around March 2020 when Ms Caddick and he determined that, in order to reduce the health risk to the family (in circumstances where Ms Caddick was already largely responsible for financially supporting the family) he would remain at home and attend to household duties, child care and facilitating after school appointments,” his solicitor Scott Harris has written to the court.

Justice Brigitte Markovic today threw him a financial lifeline against the wishes of investors who fear they have lost millions by giving Ms Caddick their money to invest.

The investors who appear to have lost millions to Ms Caddick are hard-working Australians, their lawyers have told the court.

The law firm Bridges Lawyers, which represents 13 clients of Ms Caddick and Maliver who invested a total of $5.3 million, said their clients are “deeply distressed”.

“Our clients have instructed us to advise you that they are each hard-working Australians who invested their life and retirement savings with Maliver and are deeply distressed by the revelation that Ms Caddick has gone missing and their significant, hard earned savings cannot presently be accounted for,” partner Dominic Calabria has written to ASIC in a letter tendered to the court.

“Some of our clients are at, or very near, retirement. If their lifetime savings cannot be accounted for and recovered, the impact on their lives will be immediate, substantial and life-changing.”

Melissa Caddick’s disappearance is still being treated as a missing persons investigation. Picture: Andy Baker.

Counsel for ASIC, Stephanie Fendekian, has previously told the court that the dozens of devastated clients of Ms Caddick who had contacted them did not want her family to get any more of the money which may be all that is left of theirs.

But she told the court this morning that ASIC neither consents or opposed increasing the family‘s living expenses. The amount was not mentioned in court.

The court wad told today that ASIC seized 60 folders of documents from Ms Caddick’s home in a raid on November 10, two days before she disappeared apparently while on her morning run.

Investigators are still ploughing through the paperwork, a court was told today.

Justice Brigitte Markovic gave ASIC until January 19 to provide copies of the seized documents to Ms Caddick‘s older brother Adam Grimley who is representing her interests as her power of attorney.

The judge told ASIC they had already had the documents for five weeks, since they were seized in a raid on her Dover Heights home, and there was another working week before Christmas.

ASIC had wanted until January 22.

“There were 60 folders of materials seized and they are in the process of being scanned and assessed,” Ms Fendekian told the court.

She also objected to orders which would force ASIC to hand over all the documents to receivers and provisional liquidators which have been appointed to Ms Caddicks personal dealings and those of her company Maliver for “private” reasons.

But the judge said that if all of the material was not handed over, then the reports by the receivers and provisional liquidators would be deficient and not tell the whole story.

The court has previous heard that Ms Caddick sold over $3 million in shares in the weeks before the corporate regulator ASIC launched its investigation into her business dealings, leaving her trading account in debit.

At the same time, she owed $5,605,553 on her two home loans.

The money included $3,879,553 which she noted was for ”MC and AG Home” and $1,726,000 which she noted was for “MC Home”, according to her banking records which have been tendered to the Federal Court.

Melissa Caddick with her husband Anthony Koletti.

Her clifftop home in Wallangra Road, Dover Heights, where she lives with husband Anthony Koletti and her teenage son, is jointly owned by Ms Caddick and her older brother, Adam Grimley. Records show Mr Grimley has a 1/100 share.

Mr Grimley is representing her in the case brought by ASIC after she went missing on November 12. The court has been told that Ms Caddick granted him an enduring power of attorney in September.

The validity of that power of attorney is due to be heard in the Queensland Civil and Administrative Tribunal on December 21.

Ms Caddick also owns a penthouse in Edgecliff and a condominium in the rich list ski resort of Aspen.

Her share trading account with CommSec was left $20,418 in debit as at September 25, according to the ASIC documents.

Between August 13 and August 24, she sold shares worth $3,052,145.

ASIC on Wednesday said that the first Ms Caddick knew of their investigation was on November 10 when they raided her home at 6am, armed with a court order that had frozen her assets including 29 bank accounts.

The court orders were made without Ms Caddick being informed when ASIC told the court that if she learned of the investigation “there may be further appropriation and dissipation of Australian consumer’s funds”.

They said she was an overseas flight risk. Police yesterday said they were still investigating her disappearance as a missing person case.

ASIC has alleged that Ms Caddick was mixing clients’ funds with her own and it is not known if she was spooked when one of her newer investors, a woman she met in Aspen in January this year, suddenly asked for her $2.5 million back with interest in August.

The Watson’s Bay woman, called Witness C in the court proceedings, is the mother of a boy who goes to school with Ms Caddick’s 15-year-old son. She had given Ms Caddick the money to invest in April.

Then she learned in a casual chat in a dental surgery that Ms Caddick did not hold her own Australian financial advisers licence, the court has been told.

By August 24, Ms Caddick had given her back $2,800,000 and the woman told ASIC that she had “acted in a professional way”.

By August 21, a US dollar account held by Ms Caddick had a zero balance. There had been $339,359 transferred into the account between August 15, 2018, and that date, the court heard.

They are just a few of the hundreds of money transactions Ms Caddick made between her accounts and the accounts of her company, Maliver, of which she was the sole director. They include a total of $20,079,000 from one of her bank accounts between January 1, 2018, and September 18, 2020.