Melissa Caddick victims receive their first refund after the Sydney scammer stole $23 million
- Melissa Caddick’s victim received her first refund
- Caddick stole over $23 million from 55 victims
Victims of the infamous Sydney scammer Melissa Caddick have received the first refund of their stolen money.
Accounting firm Jones Partners shared a total of $3 million with Caddick’s 55 victims after recovering the funds by selling the scammer’s assets.
Most of the interim distribution came from the sale of Caddick’s beloved Dover Heights home, which sold for $9.8 million last spring.
Caddick disappeared from his Dover Heights home in November 2020 after defrauding his investors, mostly family and friends, out of more than $23 million.
A coroner’s inquest in May found that Caddick died after his decomposing foot washed up on a beach on the south coast of New South Wales in February 2021. But the date, cause or location of his death remains a mystery. .
The first payment was made to the victims of Melissa Caddick (pictured with her husband, Anthony Koletti)
The 55 victims received a share of the $3 million recovered through the sale of Caddick’s assets (pictured, one of Caddick’s seized necklaces)
“In many Ponzi schemes, it is not unusual for investors to receive no return, so we are pleased to be able to make this distribution and anticipate other significant distributions in the future,” said Jones Partners director Bruce Gleeson.
Another of Caddick’s prized properties, a penthouse in Edgecliff, will go on sale this spring.
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.
Her parents were recently paid $950,000 to vacate the property after a bitter court battle with their daughter’s victims.
Double Bay’s Richardson & Wrench will spearhead the Edgecliff sale and the real estate campaign will begin in September.
Caddick disappeared from his home in Dover Heights, east of Sydney, in November 2020 after defrauding friends and family of more than $23 million.
A coroner’s inquest in May found Caddick dead, but could not determine the date, cause or location of her death.
Most of the interim distribution came from the sale of Caddick’s beloved Dover Heights home (above), which sold for $9.8 million last spring.
A coroner’s inquest in May found Caddick (above) dead, but could not determine the date, cause or location of his death.
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 cars.
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.