Melissa Caddick's victims receive to first compensation payment

Investors duped by fake financial adviser Melissa Caddick has been paid $3 million, as distributed by liquidators Jones Partners.

The distribution emanated from realised share portfolios and the sale of Caddick's Dover Heights property that she resided in, says Bruce Gleeson, principal at Jones Partners

"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 further significant distributions in the future.

"We have also recently taken possession of the Edgecliff Penthouse and are presently preparing it for sale. [On August 10] we have appointed Richardson & Wrench Double Day to undertake the sale campaign for us."

Caddick's Edgecliff penthouse will be up for sale at the beginning of next month.

"The Edgecliff Penthouse in the Eastpoint Tower, Edgecliff is in a prime location and the sale of it will importantly enable us to make further significant distributions to Investors," he says.

Caddick is purported to have fleeced investors, family, and friends of more than $23 million.

On May 25, the New South Wales Coroner declared Caddick dead, though the nature of her demise could not be confirmed.

Caddick went missing in November 2020 following a raid on her home by ASIC in relation to an alleged Ponzi scheme she had been running for some time. She is suspected of swindling investors out of as much as $30 million.

Three months later, her decomposed foot washed up on a beach on the NSW South Coast.

This article first appeared on Financial Standard

Get stories like this in our newsletters.