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A luxury penthouse previously owned by Sydney scammer Melissa Caddick, 49, has been sold for an undisclosed sum with a deal expected next month.
The proceeds are expected to be used to return some of the stolen money to dozens of investors, many of whom were his family and close friends.
The apartment at the top of Eastpoint Tower in Edgecliff, in Sydney’s eastern suburbs, went up for auction on October 10 for an estimated $5.5 million.
However, it was withdrawn and put on the market for a private sale, liquidators Jones Partners said at the time.
Company director Bruce Gleeson confirmed the penthouse had been sold in a statement on Saturday.
A luxury penthouse previously owned by Sydney scammer Melissa Caddick, 49, has been sold for an undisclosed sum with a deal expected next month.
The apartment was previously occupied by Caddick’s parents, Ted and Barbara Grimley, and features extensive panoramic views of the Sydney city skyline and eastern suburbs.
“We have informed the creditors of Maliver Pty Ltd (in liquidation) and the deep-pocketed investors of Melissa Caddick of the sale,” he said.
“Sydney Sotheby’s helped sell the penthouse and a deal is expected in April”.
The price has not been revealed, but is believed to be below $5 million.
The apartment was previously occupied by Caddick’s parents, Ted and Barbara Grimley, and features extensive panoramic views of the Sydney city skyline and eastern suburbs.
He bought the apartment for the Grimleys in 2016, paying $2.55 million.
The couple later said they paid their now-dead daughter nearly $1.2 million toward the apartment’s mortgage on the condition that they could live there rent-free until her death.
But in the end, the Grimleys agreed to leave after a lengthy court battle in exchange for a $950,000 payment from Caddick’s estate.
“Spacious throughout and elegantly presented with understated contemporary finishes, this is the perfect opportunity for individuals looking to downsize, executives and families seeking undeniable quality and convenience,” the property’s online listing said.
Caddick, a supposed financial advisor, lived a life of luxury thanks to some $23 million stolen primarily from family and friends through an investment scam.
The apartment has spectacular views of Sydney as well as access to the shopping center below.
The 49-year-old disappeared in November 2020, just days after ASIC investigators raided her home in Sydney’s eastern suburbs.
In May, a coroner ruled that Caddick was dead, but could not determine the cause.
The fraudster’s severely decomposed right foot, still attached to a running shoe, washed up on a beach on the New South Wales south coast in February 2021, but the rest of his body has not been found.
Investors received a share of $3 million recovered by liquidators Jones Partners in August last year following the sale of Caddick’s share portfolio and Dover Heights clifftop mansion.
At the time, Gleeson said it was not unusual for investors to receive nothing in return from Ponzi schemes.
He said the sale of the Edgecliff apartment would allow significant further distributions to investors.