Almost three years after fraudster Melissa Caddick disappeared, her 55 victims are getting their first payout, because the brokers had been appointed to promote her Edgecliff penthouse.
The household and buddies that she ripped off to the tune of $23.5m haven’t acquired a cent for the reason that con artist vanished in November 2020, simply hours after her Dover Heights residence was raided by ACIC.
Her foot washed up in a working shoe on a south coast seashore three months later.
However immediately liquidator Bruce Gleeson of Jones Companions introduced: “We have now made a primary and interim distribution to buyers totalling $3,000,000.”
This might be distributed among the many 55 buyers.
And it appears her victims must be grateful: “In lots of Ponzi schemes, it isn’t uncommon for buyers to obtain no return, so we’re happy to have the ability to make this distribution and anticipate additional important distributions sooner or later,” Gleeson added.
He defined that the payout was largely on account of final spring’s $9.8m sale of the Dover Heights residence that Caddick had lived in and her share portfolio.
The liquidator additionally recouped about $850,000 from the sale of her paintings, high-end garments and purses and jewelry.
Gleeson mentioned Richardson and Wrench Double Bay had been appointed immediately to promote the three-bedroom condominium atop Eastpoint Tower, which had been the house of Caddick’s mother and father, Ted and Barb Grimley, this spring.
In an announcement, Gleeson mentioned: “At this stage, we’re aiming to record the Edgecliff penthouse on the market firstly of September 2023.”
Caddick had purchased the penthouse in her identify in 2016 for $2.55m and, within the course of, nabbed $1m from her people in return for permitting them to stay there.
They, too, had fallen sufferer to the unscrupulous “monetary adviser”.
As a substitute of paying down the mortgage, Caddick had blown the $1m her mother and father gave her on jewelry and her extravagant life-style.
The brokers didn’t nominate the particular Richardson and Wrench brokers and the company is refusing to advise, however they’re prone to be Paul Kantor and Tim Mckenschnabyl.
They’re the pair to have offered an unrenovated two-bedroom condominium in Eastpoint Tower for $4.1m — a whopping $1.1m over reserve — in April.
The consequence was a report for a two-bedder within the constructing.
Gleeson mentioned he was assured of a powerful consequence for the Caddick penthouse: “The Edgecliff penthouse within the Eastpoint Tower, Edgecliff is in a main location and the sale of it
will importantly allow us to make additional important distributions to Buyers,” he mentioned.