{"id":35701,"date":"2021-11-22T19:41:35","date_gmt":"2021-11-22T06:41:35","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=35701"},"modified":"2021-11-22T19:41:35","modified_gmt":"2021-11-22T06:41:35","slug":"caddicks-assets-to-be-sold-to-repay-investors-fraction-of-23m-owed","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/caddicks-assets-to-be-sold-to-repay-investors-fraction-of-23m-owed\/","title":{"rendered":"Caddick\u2019s assets to be sold to repay investors fraction of $23m owed"},"content":{"rendered":"

PHOTO: Sydney businesswoman Melissa Caddick.<\/span><\/strong><\/p>\n

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Long-suffering investors who are owed a total of $23,554,921 in funds stolen by missing fraudster Melissa Caddick<\/a> have finally had some good news.<\/p>\n

Liquidator Bruce Gleeson from Jones Partners said that the judgment was a \u201ccritical and beneficial step for investors who have lost money with Melissa Caddick\u201d.<\/p>\n

\"Melissa<\/a><\/div>\n
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Why Melissa Caddick\u2019s husband is STILL living in their $6.2million mansion<\/a><\/h2>\n<\/header>\n<\/div>\n

One investor welcomed the news saying, \u201cIt\u2019s been a really long wait for investors. We\u2019re thrilled that finally there is some movement. She has taken so much from us. She hasn\u2019t just taken out money, she\u2019s taken our trust.\u201d<\/p>\n

The investor also said they might recoup \u201conly be 10\u00a2 in the dollar, but it\u2019s something\u201d.<\/p>\n<\/div>\n

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Federal Court Justice Brigitte Markovic paved the way for the sale of Ms Caddick\u2019s assets on Monday by formally appointing Mr Gleeson and Daniel Soire to liquidate her assets and those of her company Maliver.<\/p>\n

Over an eight-year period from October 2012, Ms Caddick passed herself off as a financial adviser. After her clients, mainly family and friends, invested money, Ms Caddick created fictitious CommSec portfolio statements, leading them to believe they had invested in shares.<\/p>\n

Mr Gleeson has previously said\u00a0that, after reviewing thousands of pages of financial documents, he could not identify a single genuine document Ms Caddick provided to her investors.<\/p>\n

\"Ponzi<\/a><\/div>\n
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Melissa Caddick\u2019s elderly parents face being evicted from their own home<\/a><\/h2>\n<\/header>\n<\/div>\n

Justice Markovic said in her judgment on Monday: \u201cThose funds were not invested in the manner discussed with or recommended by Miss Caddick but instead were used to meet Miss Caddick\u2019s personal expenses and purchase assets in her name.\u201d<\/p>\n

Among the assets to be sold are Ms Caddick\u2019s Dover Heights home, which she purchased in 2014 for $6.2 million using money stolen from her clients. Her brother Adam, who is listed as 1 per cent owner on the title, has indicated he does not intend to make a claim.<\/p>\n<\/div>\n

READ MORE VIA SMH<\/a><\/p>\n

https:\/\/www.instagram.com\/p\/CV7ZxZylUEl\/?utm_source=ig_web_copy_link<\/p>\n

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