Missing Melissa Caddick’s husband and son have living allowance cut
The husband and son of missing businesswoman Melissa Caddick have had their weekly living allowance stopped by the Federal Court.
Police & Courts
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The husband and son of missing businesswoman Melissa Caddick have had their weekly living allowance stopped by the Federal Court because there is no more money to pay them.
The alleged conwoman’s disappearance has left unemployed hairdresser Anthony Koletti and his teenage stepson, 15, high and dry with just $5600 currently in Ms Caddick’s 29 bank accounts which had over $20 million flowing through them in one year alone.
The court yesterday ordered an end to the $1700 weekly allowance including the teenager’s private school fees as devastated investors were also given the bad news that there is unlikely to be much money for them either.
The receivers appointed to investigate the the affairs of Ms Caddick and her company Maliver have found a “significant” difference between around $25 million owed to around 60 investors and what assets can be found, the court was told.
Their voluminous reports, which run to hundreds of pages, have also indicated the once-high flying millionaire may have breached the criminal law and the Corporations Law.
NSW Police have already begun a criminal investigation into Ms Caddick, 39, with Police Commissioner Mick Fuller saying he believes she still alive and in hiding.
She has not been seen since she left her luxury home in Sydney’s Dover Heights on November 12 — just two days after authorities raided her home and seized her assets.
Assets which the provisional liquidators have tracked down including real estate, shares and luxury goods including the jewellery she loved to flaunt, are held in her name while most of the investors put their money into deals through her company Maliver.
Lawyers for the investors who trusted Ms Caddick with their life savings have been urging the court to sell the Dover Heights home and the penthouse Edgecliff apartment she bought for her parents.
The Federal Court also heard that her Mr Koletti, who used to drive a $300,000 Audi, and her brother Adam Grimley, who she appointed as her power of attorney, were quizzed by ASIC on February 18 and 19 under section 19 of the ASIC Act which covers “information gathering”.
There is no suggestion of wrongdoing involving either man. Mr Koletti has just $1.95 in his bank account when his wife fled.
“There is a limited asset pool,” Stephanie Fendekian, for ASIC, told the court on Monday.
“There is the fact that Ms Caddick is still missing and that the bulk of her assets are in her name rather than the company name ... real estate, shares and luxury goods. Most of the investors invested with the company.
“At some point there is a likely to be claims between the company and Ms Caddick (which can be) time consuming and costly.”
Ms Fendekian said ASIC would try to streamline the process to get as much as they can for around 60 investors who are believe to lost $25 million.
The case was adjourned to April 7 and 8 for a hearing before Justice Brigitte Markovic.
MISSING CADDICK INVESTORS LOSE HOPE
Devastated investors who trusted missing Dover Heights businesswoman Melissa Caddick with millions of dollars of their life savings are unlikely to get much of it back, the Federal Court has been told on Monday
The receivers appointed to investigate the alleged conwoman’s financial affairs have found a “significant” difference between what is owed and what assets can be found as she has just $5600 in the bank.
Their voluminous reports, which run to hundreds of pages, have also indicated the once-high flying millionaire may have breached the criminal law and the Corporations Law, the court was told.
Assets which the provisional liquidators have tracked down including real estate, shares and luxury goods including the jewellery she loved to flaunt, are held in her name while most of the investors put their money into deals through Ms Caddick’s company, Maliver.
The corporate regulator ASIC is working with NSW Police who believe Ms Caddick, 49, is still alive and in hiding.
She has not been seen since she left her luxury home in Sydney’s eastern suburbs on November 12 - just two days after authorities raided her home and seized her assets.
The Federal Court also heard that her husband, Anthony Koletti, and her brother Adam Grimley, who she appointed as her power of attorney, were quizzed by ASIC on February 18 and 19 under section 19 of the ASIC Act which covers “information gathering”.
There is no suggestion of wrongdoing involving either man.
“There is a limited asset pool,” Stephanie Fendekian, for ASIC, told the court on Monday.
“There is the fact that Ms Caddick is still missing and that the bulk of her assets are in her name rather than the company name ... real estate, shares and luxury goods. Most of the investors invested with the company.
“At some point there is a likely to be claims between the company and Ms Caddick (which can be) time consuming and costly.”
Ms Fendekian said ASIC would try to streamline the process to get as much as they can for around 60 investors who are believe to lost $25 million.
The case was adjourned to April 7 and 8 for a hearing before Justice Brigitte Markovic.
GROUP IN LEGAL STRIFE AFTER COURT LIVESTREAM
Overzealous online sleuths in a controversial Facebook group spouting theories about missing millionaire Melissa Caddick have potentially broken the law after livestreaming a Federal Court hearing this morning.
Around 40 people from the “Melissa Caddick and the missing millions” group tuned into the court hearing on Monday, streamed by what is believed to be an admin of the group.
During the half an hour stream, which was still live on the group more than half an hour after the hearing had finished, several users continued to speculate about the case.
Federal Court rules prohibit the recording and playing of videos of proceedings.
The group has 3000 members.
NSW Police have recently been working on the theory the mother-of-one is very much alive – the case is currently with the financial crimes squad and not the homicide squad.
Corporate watchdog ASIC has been pursuing the case against Ms Caddick since late last year when it emerged she allegedly swindled millions out of investors.
The day after ASIC raided her Dover Heights mansion she vanished.
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