The largest payment to victims of infamous scammer Melissa Caddick has been made, and liquidators are optimistic that more will be forthcoming.
Justice Brigitte Markovic of the Federal Court ruled on Wednesday that defrauded investors should receive their $4.25 million within a few days.
It is the second time that Caddick’s assets have been distributed by a court after liquidators recovered $3 million from the deceased scammer as payment in 2023.
Her opulent penthouse in Sydney’s affluent eastern suburbs sold in March for about $5 million, less than the $5.5 million that was asked for the unit.
However, the $7.25 million that was paid to victims in total is a small amount of the money that she stole.
The self-styled financial advisor Caddick stole $23 million through an investment scheme from friends and relatives in order to fund his extravagant lifestyle.
According to Bruce Gleeson of liquidators Jones Partners, investors will shortly get paid, bringing the total amount recovered to roughly 32 cents on the dollar.
“We are also making significant progress regarding recovery of tax refunds regarding the company operated by Ms Caddick … and we will shortly be issuing a further update regarding the distributions we anticipate making to investors from this source,” he stated to AAP.
“It remains important for us to get the best possible return to investors from this Ponzi scheme.”
The $3 million that was previously disbursed to investors came when her share portfolio and clifftop property in Dover Heights were sole.
The 49-year-old vanished in November 2020, a few days after ASIC officials looking into her Ponzi scheme ransacked her opulent house.
In May 2023, Coroner Elizabeth Ryan declared Caddick dead, but as the majority of her body had not been discovered, she was unable to ascertain the cause.
In February 2021, the fraudster’s severely decayed right foot—which was still fastened to a running shoe—washed ashore on a beach along NSW’s south coast.
The last person to see Caddick alive was her husband Anthony Koletti, who subsequently reported her missing.
The coroner concluded that he concealed information about his wife’s disappearance and that his involvement could not be completely ruled out.
