Conwoman’s sneakers, artwork and jewellery handed over to investors
Ongoing court action involving vanished conwoman Melissa Caddick has seen luxury items handed over to duped investors in a bid to claw back lost money.
A Federal Court judge has ordered high value sneakers belonging to the son of conwoman Melissa Caddick be handed over to receivers as they continue to wind up her estate.
Jewellery, two pieces of artwork and computer items could also be sold by receivers, after Caddick vanished in November 2020 when the Australian Securities and Investments Commission raided her Dover Heights home in Sydney over a $23 million fraud.
Solicitor for the receivers Michael Hayter said an agreement had been struck with Caddick’s husband Anthony Koletti in relation to the shoes which may be worth tens of thousands of dollars.
“A deal has been done with Mr Koletti on behalf of the stepson that the stepson retain half of the lesser value of the sneakers, and the receivers will then realise the higher net worth value sneakers,” he said.
During a previous hearing, the court heard one pair could be worth $12,000.
While two designer dresses will remain with Mr Koletti, Justice Brigitte Markovic said other items could be realised by investors.
“The receivers would be justified in realising by sale the items of jewellery identified in … these orders,” she said.
Further, the receivers would “be justified in realising by sale” computer items identified in the orders, Justice Markovic said.
The court also heard a number of items — including a gentleman’s steel Breitling chronograph Navitimer watch and a Canturi ring with “baguette” cut black sapphires — were included in Caddick’s assets.
Mr Hayter said a bank account in the name of Caddick’s son be should be available to receivers, except for $8500 which is believed to have come from other family members.
The court heard some accounts, including two linked with superannuation each with about $30,000, could be handed over to investors.
Justice Markovic ordered the receivers notify investors about money held in those accounts.
The court heard some of the money in them may have been invested before Caddick started the Ponzi scheme, and therefore it is unclear if or how much receivers could claim.
The court heard Caddick’s brother Adam Grimley was listed as a trustee of one of the second accounts, which also contained about $30,000, but he believed his signature had been forged and he knew nothing about it.
Further, the trustee listed before Mr Grimley was Mr Caddick, who also believed his signature was forged.
As well, the court heard there are four accounts with money in them that are co-signed by Caddick and investors.
In one case, an investor clearly put $17,000 in an account which belonged to them. But in a more complicated case, of the $67,430 in a separate account, $40,000 had been “co-mingled” with Caddick’s money.
Justice Markovic raised concerns about some investors ending up better off than others, and suggested they all needed to be contacted.
A coroner found Caddick is dead in May this year, but could not determine her cause of death.
A foot belonging to Caddick was found on a beach in NSW about three months after she disappeared in November 2020.
The matter will return to court on December 4.
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