Missing woman Melissa Caddick’s bogus $13m fund

Accused con artist Melissa Caddick persuaded unsuspecting investors to sink at least $13m into a bogus fund before she mysteriously vanished, a court has heard.

Melissa Caddick. Picture: Facebook

Accused con artist Melissa Caddick persuaded unsuspecting investors to sink at least $13m into a bogus fund before she mysteriously vanished last month, a court has heard.

On Tuesday, Justice Brigitte Markovic ordered that a provisional liquidator be appointed to Maliver, Ms Caddick’s company, to oversee the firm’s affairs.

The corporate watchdog has alleged that Ms Caddick, Maliver’s sole director and shareholder, engaged in a years-long pillaging of more than $13m from investor funds, which was spent on luxury clothes, elaborate international holidays, shopping trips, and a lavish lifestyle.

Ms Caddick, 49, was last seen at her $7m cliffside home in Dover Heights in Sydney’s east just after midnight on November 12.

Just two days before she went missing, Australian Federal Police and ASIC had raided the millionaire’s mansion, freezing all her assets and confiscating her passport.

On Tuesday, barrister Stephanie Fendekian, for ASIC, told the court that a host of “distressed consumers” had contacted the watchdog upon learning of Ms Caddick’s disappearance.

“They have contacted ASIC and provided more information regarding their investments,” she said. “They have invested approximately $13m with the defendant and the majority have not received any funds back.”

A total of $7.88m was deposited with Ms Caddick between December 4, 2019 and September 16, 2020, according to court documents. She also transferred almost $340,000 into her US Dollar account between August 15, 2018, and August 21, 2020.

Barrister David Sulan, for Ms Caddick’s brother Adam Grimley, asked the court on Tuesday to increase the living expenses for her husband Anthony Koletti and the wider family. The court was told they were receiving an allowance of $800 a week, but Mr Sulan argued it was inadequate to meet their living expenses.

The court also was told that the family had incurred legal bills of $66,000.

Ms Fendekian told the court investigations of Ms Caddick’s ­financial position had revealed she had $4m in various bank accounts. “The documents revealed there might be further property, including valuable assets in Sydney and the United States, owned by the defendants,” she said.

Police believe Ms Caddick left the home for the last time at about 5.30am on November 12 to go on her usual morning run. She failed to take her phone, and hasn’t been heard from since.

Mr Koletti has already been questioned by police, and there’s no suggestion he had any involvement in his wife’s disappearance.

Police launched an investigation into her disappearance on November 13, the same day Ms Caddick was due to appear in the Federal Court.

The case will return to court on Thursday.