Con artist Melissa Caddick’s Edgecliff penthouse is coming to the Sydney property market after a $1 million deal ends years of bitter disputes with her parents
- Melissa Caddick’s Sydney penthouse is going on sale
- It is the last major asset of the deceased con man.
Infamous con artist Melissa Caddick’s last major asset, a luxurious penthouse in eastern Sydney, is soon to be sold in a bid to recoup some of the millions of dollars she stole.
It comes after liquidators finalized a million-dollar deal with his parents to move out of the luxurious apartment and allow it to eventually be sold.
Caddick disappeared from his home in Dover Heights, east of Sydney, in November 2020 after defrauding friends and family of more than $23 million.
Her victims believed she was investing the funds, but instead she spent the money on designer clothes, jewelry, foreign trips, multi-million dollar properties, and luxury cars.
A coroner’s inquest in May found Caddick dead, but could not determine the date, cause or location of her death.
An Edgecliff penthouse known as the last major asset belonging to Melissa Caddick, a Sydney con artist who stole around $23 million from her friends and family, is soon to go on sale (Penthouse apartment block pictured)
A coroner’s inquest in May found fraudster Melissa Caddick (above) died after disappearing from her Dover Heights home in November 2020.
Jones Partners is tasked with unraveling the scam to determine how much is owed to Caddick’s victims.
More than $10 million of money stolen from the sale of Caddick’s assets was recovered, including $361,000 worth of automobiles and collectively $884,000 worth of artwork and jewelry.
The most prized sale so far was his Dover Heights home, which sold for $9.8 million last spring.
Estate agents are expecting a similar sale this spring for his penthouse in Edgecliff, located in eastern Sydney, about 5km east of the city’s central business district.
Caddick bought the three-bedroom apartment for $2.55 million in 2016 and convinced his parents to pay $1 million for a third of the property.
But instead of using the cash to pay off the mortgage, he spent it all on his lavish lifestyle of fast cars, fancy vacations, and designer clothes.
Caddick bought the three-bedroom Edgecliff apartment (above) for $2.55 million in 2016 and convinced his parents to pay $1 million for a third of the property.
Her parents were paid $950,000 Monday in exchange for leaving the property after a bitter court battle with their daughter’s victims.
The home will hit the market in the next few weeks and compares to sell for up to $5.1 million, the Sydney Morning Herald informed.
The area is home to several notable Australians, including mining heiress Leonie Baldock.