Found Deceased Australia - Melissa Caddick Missing After Australian SIC Raid - Sydney (NSW) - Nov 2020 #9

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Documents obtained by the Herald reveal that $647,000 has already been spent on legal fees which include fighting claims mounted by Caddick’s family, including her husband Anthony Koletti, her parents Barb and Ted Grimley and her brother Adam. Ongoing legal action is projected to cost a further $440,000.

The legal matters and the complicated unravelling of Caddick’s affairs have already drained $2 million from the asset pool, which the Herald can reveal is currently worth about $7 million after the sale of her Dover Heights house, jewellery, luxury cars and other possessions.

[BBM] Out-of-pocket investors, who lost $23.5 million in Caddick’s Ponzi scheme, may recover about 30¢ for every $1 that is owed to them.

... 30 cents and counting (down). This is a lawyers' picnic.


www.smh.com.au

Legal fees expected to hit $1m in battle over Melissa Caddick’s estate

Out-of-pocket investors, who lost $23.5 million in the fraudster’s Ponzi scheme, may only recover around 30 cents for every $1 owed to them.
www.smh.com.au www.smh.com.au
 
JBowie said:
Documents obtained by the Herald reveal that $647,000 has already been spent on legal fees which include fighting claims mounted by Caddick’s family, including her husband Anthony Koletti, her parents Barb and Ted Grimley and her brother Adam. Ongoing legal action is projected to cost a further $440,000.

The legal matters and the complicated unravelling of Caddick’s affairs have already drained $2 million from the asset pool, which the Herald can reveal is currently worth about $7 million after the sale of her Dover Heights house, jewellery, luxury cars and other possessions.

[BBM] Out-of-pocket investors, who lost $23.5 million in Caddick’s Ponzi scheme, may recover about 30¢ for every $1 that is owed to them.

... 30 cents and counting (down). This is a lawyers' picnic.


www.smh.com.au

Legal fees expected to hit $1m in battle over Melissa Caddick’s estate

Out-of-pocket investors, who lost $23.5 million in the fraudster’s Ponzi scheme, may only recover around 30 cents for every $1 owed to them.
www.smh.com.au www.smh.com.au
Click to expand...
Total of the Family's legal fees will add up to just over a million. That would neatly swallow up the parents' entitlement, even if they could get back a dollar in a dollar. Too ironic.
 
I don't expect to see this Ils se sont disputés displayed for all and sundry to see, the inner workings of financial skulduggery paraded for the hoi polloi, mere mortals observing the wretched remnants of this ridiculous woman and her ridiculous effort to elevate her social status by fraud and theft on a grand scale, not as grand as some, but considerable. Melissa's most searing sin, her truly inherent vileness was in her choice of victims, friends, family, one being the mother of one of her sons school mates. They must have been easy marks, something those investors have to live with every day. How could she have fooled me?...

She was expert at it, is why. One just isn't expecting the scam to come from inside the circle. Even her 'housekeeper', the woman who did the ironing and the cooking and cleaned her bathrooms was scammed of her superannuation. No one who came into her orbit was safe. No one. Melissa waa ecumenical , robbed the rich and the poor.

This will most likely be sorted out in the Jarrrah wood lined offices of high powered lawyers, they would consider it a real loss of face if it has to be carted down to MacQuarie St. Much more preferable to come to a 'gentleman's agreement ' behind closed doors than the monumental extra cost of public trial.
 
Via Marple said:
Total of the Family's legal fees will add up to just over a million. That would neatly swallow up the parents' entitlement, even if they could get back a dollar in a dollar. Too ironic.
Click to expand...

That will also swallow up the money of the people who have been conned and robbed of their life savings.

The whole thing is disgusting and the Grimleys know that and don’t give a ****.
 
Trooper said:
One just isn't expecting the scam to come from inside the circle.
Click to expand...

As has been mentioned here before, Ponzi schemes are quite often affinity frauds. Caddick preyed on friends and relatives. Madoff preyed (largely) on the Jewish community.

Affinity means less work initially for these criminals courtesy of the established relationships, and then word of mouth within the targeted community does the rest for them.

Fundamentally sociopaths, high on the narcissism scale.
 
JBowie said:
The new occupants of Melissa Caddick’s Dover Heights mansion claim they didn’t know it belonged to the missing fraudster. Nor did they explain why a bag of red chillies was tied to the front door.

(paywalled)

Click to expand...
Every Saturday morning, Indian Hindu families perform a ritual thought to bring them luck: they take 7 green chillies and a lemon and string them all together to form a kind of pendant.

This little vegetable ornament is then hung in a safe part of the house, usually under the table, and is left there until the following Saturday, when it is burnt and substituted with a new one.
Hindus believe that this device drives bad spirits out of the house. This special string of chillies and lemon is also hung in front of businesses for good luck.
www.finedininglovers.com

The Mysterious Uses of Chilli Pepper (Superstitious and Spiritual)

Did you know chilli peppers may bring good luck? Or that some cultures attribute superstitions to this spicy ingredient? Discover the many meanings of chillies.
www.finedininglovers.com www.finedininglovers.com
 
JBowie said:
The new occupants of Melissa Caddick’s Dover Heights mansion claim they didn’t know it belonged to the missing fraudster. Nor did they explain why a bag of red chillies was tied to the front door.

(paywalled)

Click to expand...
This is the article:

Melissa Caddick’s mansion has new occupants … and a bag of chillies tied to the door​

The new occupants of Melissa Caddick’s Dover Heights mansion claim they didn’t know it belonged to the missing fraudster. Nor did they explain why a bag of red chillies was tied to the front door.

They say they had no idea they were buying the former home of missing fraudster Melissa Caddick when they paid $9.8 million for the Dover Heights mansion.
But the new occupants may be taking no chances the evil surrounding Caddick might return to the address — a bag of red chillies was spotted tied to the front door.

The couple said they see it as “just a house”, but tying chillies to the front door is a way to ward off the evil eye or banish bad spirits from a home in some Asian and South Asian cultures.

In Chinese culture, red symbolises luck, joy and happiness.

Of course, it could also just be that friends, family or neighbours dropped off a small bag of chillies as a house-warming gift.

According to property records, Tongna He purchased the four-level Dover Heights home last October.

The proceeds of the sale went towards paying back the estimated $23 million Caddick fleeced from friends and family before she vanished in November 2020.

Reports after the sale suggested Mr He was a retired businessman with adult children. However, business records returned only one result for that name — a 25-year-old born in China.

The records said Mr He established a company called Tongna He Pty Ltd on November 25, 2022. The business was registered at another Dover Heights property on Hardy St, which was purchased for $5.6 million in August 2020. Property records said that was also owned by Tongna He.

The Sunday Telegraph approached the home this week but a man declined to comment and went inside.

A woman who was with him said: “We only just moved in. We actually didn‘t know about the house (history) until we bought it. At the end of the day it is just a house to us.”

The only obvious difference to the home since it was inhabited by the notorious fraudster was a decorative bird display near the porch, and the bag of red chillies tied to the front door.

The infamous CCTV cameras that failed to capture Caddick’s last movements are still there.
 

A used paper shredder and a painting by Cuddles the elephant are among the hundreds of items once owned by fraudster Melissa Caddick that are about to go under the hammer.

The household objects are being auctioned as liquidators try to recoup as much money for investors as they can and include more artwork, gym equipment, skateboards and even champagne.
 
imstilla.grandma said:
Families of people killed in the Las Vegas Strip massacre in October 2017 will receive shares of almost all the $1.4 million estate of the man who unleashed the deadliest mass shooting in modern U.S. history and killed himself before police reached him, according to a probate case that ended Thursday in Nevada.

In the next several weeks, a total of almost $1.3 million will be distributed to the families of 61 victims of the shooting, said Alice Denton, the Las Vegas attorney who handled the case with her partner, Jarien Cho, at no cost to the estate of the gunman, Stephen Paddock.

“We have done what we set out to do,” Denton said of the more than five-year process to appraise, sell and distribute proceeds from Paddock's assets, including two homes and an investment property in Nevada, a vehicle and 49 guns.

“We worked to ensure that the victims' families received the most that they could,” Denton told The Associated Press. “The guns were destroyed, and the funds will be distributed to the families of the deceased victims according to the direction of the shooter's mother. None of the money is going to anyone in the Paddock family."
www.rgj.com

Families of Las Vegas mass shooting victims to split shooter's estate

Families of people killed in the Las Vegas Strip massacre in October 2017 will receive almost all of the $1.4 million estate of the man who unleashed the deadliest mass shooting in modern U.S. histor…
www.rgj.com
Click to expand...
BBM

Can we all spot the differences?
 
Barrister Robert Newlinds, SC, who is representing the Grimleys, told the Federal Court on Friday that his clients want the receivers, Bruce Gleeson and Daniel Soire of Jones Partners, to personally pay the interest on the mortgage of his clients’ Edgecliff apartment.

. . .

Meanwhile, the findings of a coronial inquest, which were due to be handed down this week, have been delayed until May 25. [bbm]

Paywalled:

www.smh.com.au

Caddick’s parents want receivers to cough up for interest payments

The battle between the parents of missing fraudster Melissa Caddick and her victims has escalated with legal action foreshadowed against receivers handling Caddick’s estate.
www.smh.com.au www.smh.com.au
 
If other out-of-pocket investors agree and the Federal Court approves the payment of $950,000 to the Grimleys, the couple has offered to vacate the property within six weeks, enabling the receivers to put the apartment on the market.

. . .

A major stumbling block has been the Grimleys’ contention that they have an “equitable priority claim” over out-of-pocket investors when it comes to the last remaining asset, the three-bedroom apartment in “Eastpoint Tower,” currently valued at around $4.5 million.

. . .

It is hoped that Caddick’s 52 victims may eventually recover around 30¢ in the dollar.

(Paywalled)

www.smh.com.au

‘The gall of the Grimleys’: Melissa Caddick’s parents seek almost $1m to vacate flat

A settlement offer would see Ted and Barb Grimley, who are in their eighties, receive a much higher return than other victims of their fraudster daughter.
www.smh.com.au www.smh.com.au
 
JBowie said:
If other out-of-pocket investors agree and the Federal Court approves the payment of $950,000 to the Grimleys, the couple has offered to vacate the property within six weeks, enabling the receivers to put the apartment on the market.

. . .

A major stumbling block has been the Grimleys’ contention that they have an “equitable priority claim” over out-of-pocket investors when it comes to the last remaining asset, the three-bedroom apartment in “Eastpoint Tower,” currently valued at around $4.5 million.

. . .

It is hoped that Caddick’s 52 victims may eventually recover around 30¢ in the dollar.

(Paywalled)

www.smh.com.au

‘The gall of the Grimleys’: Melissa Caddick’s parents seek almost $1m to vacate flat

A settlement offer would see Ted and Barb Grimley, who are in their eighties, receive a much higher return than other victims of their fraudster daughter.
www.smh.com.au www.smh.com.au
Click to expand...
I suppose this is an unequal battle against the Grimleys right from the start. The G's have pro bono legal representation, the investors have to pay for theirs. They are now taking full advantage of it.
 
I have some sympathy for the Grimleys.

Not only have they lost their daughter but seemingly through no fault of their own they seem to have lost not only their home but most likely all their savings.

I don't hold them responsible for what their daughter did.

They were also victims.

It must be very frightening for them, especially at their age.

I just don't get the hatred towards them.
 
TootsieFootsie said:
I have some sympathy for the Grimleys.

Not only have they lost their daughter but seemingly through no fault of their own they seem to have lost not only their home but most likely all their savings.

I don't hold them responsible for what their daughter did.

They were also victims.

It must be very frightening for them, especially at their age.

I just don't get the hatred towards them.
Click to expand...

They certainly need to have a home where they feel safe and secure. In a fair and equitable manner (whatever that may be deemed to be). They, too, were screwed by their daughter. They shouldn't be homeless.
 
SouthAussie said:
They certainly need to have a home where they feel safe and secure. In a fair and equitable manner (whatever that may be deemed to be). They, too, were screwed by their daughter. They shouldn't be homeless.
Click to expand...
In one of the documentaries early on, one of the victims had already sold their home and moved out of Sydney, since they had lost their life savings they couldn't afford the city.

The G's are the victims who refuse to move, made outrageous demands on the estate to stay put in their millions dollar home, and now want bigger share of the little pie left.

I have also met them (including the brother) in person, and without saying any more, they are not likeable people. Don't think the media like them either, hence the treatment as led by SMH.

I totally get that the other victims are angry with them - well this is a court case so of course much anger exists.

MOO
 
Via Marple said:
In one of the documentaries early on, one of the victims had already sold their home and moved out of Sydney, since they had lost their life savings they couldn't afford the city.

The G's are the victims who refuse to move, made outrageous demands on the estate to stay put in their millions dollar home, and now want bigger share of the little pie left.

I have also met them (including the brother) in person, and without saying any more, they are not likeable people. Don't think the media like them either, hence the treatment as led by SMH.

I totally get that the other victims are angry with them - well this is a court case so of course much anger exists.

MOO
Click to expand...

Yes, I am not saying that I think they should get $950,000. Maybe .30c in the dollar (like the rest of the victims). That should get them a safe and secure home somewhere - even if it is not in the locale of their choice.

Their needs shouldn't be too much, being retired. So they might be able to purchase a small home or unit in a country town.

I remember the doco about the people who had to move, I think it was to somewhere in Qld. IIRC


Just to add: I do think the Gs should come to their senses and ask for a more reasonable amount, but I think they do have to ask because they are not listed as an investor. And it sounds as if they might be able to account (on paper) for a $950,000 investment. The more this drags out, the more that will be taken in court legal fees.
 
Last edited:
SouthAussie said:
The more this drags out, the more that will be taken in court legal fees.
Click to expand...

Yes indeed, and I suspect that's what the G's lawyer is using as a psychological prod to get the other parties to agree to the buy out.
 
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