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

[Trooper]

... and in response Grimleys hired an attack dog who put it to the investors that they could go the easy route and say "OK", or choose to fight it through court until what was left was further depleted by lawyer fees. The lesser of two evils, I guess, hence the lack of keenness on their part.

It is a matter of just who's attack dog is at peak, and merely for old times sake, as my sympathy is really with those investors who thought Melissa was their friend, the old family friends, the poor housekeeper, what a terrible job and then to be robbed of your savings, that was just vile of Melissa, even Anthony gets a little bit of sympathy from me, not a lot, but some, I lean towards the legal firm burrowing in on behalf of the class action.

I think the 'lack of keenness' is a little bit of wishful thinking on behalf of the G's.

 

[JBowie]

The payment of $950,000 to the Grimleys represents a 95 per cent return for the couple

Various media articles say that the parents gave $1.1 million to Caddick, and if so the return is about 86 cents in the dollar. Still way above the 36 cents or so mooted for the other victims.

 

[Trooper]

Various media articles say that the parents gave $1.1 million to Caddick, and if so the return is about 86 cents in the dollar. Still way above the 36 cents or so mooted for the other victims.

Aha.... various media outlets... these entities are a vastly different entity from the Court.. Media outlets can say what ever they want to say, or whatever the G's lawyer tells them to say, it is merely puffery until the Court actually determines who gets what. 86 cents in the dollar is a remarkable , fantastical, outrageous, la la land, optimism gone rogue figure. A number that has rarely, if ever in my memory been awarded to anyone in a case such as the scammed attempting to recover costs from the scammer, dead or alive.

 

[Trooper]

Dairy farmers' $25 million Fonterra class action payout slashed as legal fees, funders get the rest

Dairy farmers who were part of a class action over slashed milk payments in 2016 estimate they will get about 10 per cent of what they lost.

www.abc.net.au

This is just a comparison. These people were swindled by a buyout and very dodgy management, not on the scale of Melissa's theft and embezzlement..

'''Dairy farmers who were part of a class action over slashed milk payments, which sparked the 2016 dairy crisis, estimate they will get about 10 per cent of what they lost......

Farmers who were part of the Fonterra class action received payout details from lawyers this week.

Colac farmer and United Dairy Farmers president Mark Billing was an applicant in the case.

He said producers would get $13 million or 52 per cent of the total $25 million payout, which for him was about 10 cents for every dollar he says he lost.

Mr Billing told the Victorian Country Hour the other money was for lawyers and to repay third-party litigation funders.

And the payout to his business was much lower than he'd hoped, about 10 per cent of what he estimates he lost....''''''

 

[JBowie]

This is just a comparison. These people were swindled by a buyout and very dodgy management, not on the scale of Melissa's theft and embezzlement..

One advantage -- if it can be called that -- in the case of the Caddick scam is that she converted a large proportion of the stolen funds into tangible and valuable assets (real estate, gems, art, etc) that could be seized for sale.

Had she splurged the funds on holidays, gambling and other intangibles, her investors would likely be looking at no return at all.

 

[Via Marple]

Various media articles say that the parents gave $1.1 million to Caddick, and if so the return is about 86 cents in the dollar. Still way above the 36 cents or so mooted for the other victims.

Arghh.. Remind me why they deserve to get back so much more than other investors.

No one was able to produce proof of that 1.1 mil, or the supposed "agreement" between MC and her parents?

 

[JBowie]

Arghh.. Remind me why they deserve to get back so much more than other investors.

No one was able to produce proof of that 1.1 mil, or the supposed "agreement" between MC and her parents?

I don't know if there was any written agreement. I think if there were then the media would have been reporting it and their claim would have been almost an open and shut one. I guess they are relying on bank transactions being around the same time as mortgage transactions, etc, to argue their case. Hard to say.

 

[SouthAussie]

Arghh.. Remind me why they deserve to get back so much more than other investors.

No one was able to produce proof of that 1.1 mil, or the supposed "agreement" between MC and her parents?

Maybe the G's attitude is part of the reason that Melissa had a narcissistic attitude. Maybe she was raised (and had the genetic makeup) to think of herself - and possibly her immediate family - above everyone else.


I do think there must be proof of $950,000 (of the original $1.1M they claimed) of the G's money being used, but misspent by Melissa, for the Edgewood apartment. Nobody seems to be denying the claim, not the court, nor the receivers, nor the investors.

I think Melissa's brother made a claim also, didn't he? Was it $30,000? IIRC
But that claim doesn't appear to have gone through - maybe because he had no proof. And AK had to drop his claim for jewellery and other items - maybe because there is no proof that he purchased the items (because he didn't).

So, I am presuming there is proof of $950,000.

 

[SouthAussie]

I was looking at recent real estate sales at the Grimley's apartment block.

Melissa purchased their apartment in 2016 for $2.2M.

An apartment in that building sold last month for $4.1M ($1.1M over reserve).
3 weeks prior to that, a different apartment in that building sold for $3.4M ($1M over reserve).

Eastpoint Tower: Two-bedroom apartment sells $1.1m over reserve - realestate.com.au

Hot on the heels of the sale of an apartment for $1m over reserve comes another incredible result — this time for even more! And it’s in the same block.

www.realestate.com.au

 

[Trooper]

I don't know if there was any written agreement. I think if there were then the media would have been reporting it and their claim would have been almost an open and shut one. I guess they are relying on bank transactions being around the same time as mortgage transactions, etc, to argue their case. Hard to say.

The G's did and do not have any paper, signed or otherwise to the effect of Melissa agreeing to use their 1 million as a deposit on the apartment. It is precisely because there is no written narrative that supports the G's claim that this whole apparatus, this convoluted intricate back and forth, the class action, the designated receivership ( there has been , so far, two of those, both very expensive undertakings, neither of which was able to ascertain the probity of the G's claims. ) ... so it is not so much a matter of 'hard to say' but more a matter of ' easy to confirm' that had there been any paperwork at all, the ATO, the Receiverships ( 1 and 2 ) would have been presented with them by the G's.

But no. Their entire claim rests on their say so. Which, really, is not going to cut it, at least not without a series of expensive appeals. It is comforting to think that Melissa took care of her parents stability in keeping that apartment out of the scamming shindigs, but she was that mean. She had the money to pay out the mortgage and make their ownership free and clear of all burdens, but no. Not Melissa. Hence, her old mum and dad face the future in a Housing Commission flat in Campbelltown. Along with the brother, too. One day a rooster, next day a feather duster. Happens a lot.

I do think , come the judgement, there will be a certain element of 'culpability' assigned to all the claimants, in so far as they chose to invest with Melissa and not with a certified , registered investment organisation. In other words, they went for the high return, seemingly oblivious to the higher degree of risk. They did not do due diligence with their own money. The judge may see it all as a horse betting affair where people bet on the form and then complain when their horse runs dead last.

But one thing is clear, the G's have no firmer claim than anyone else involved, except they may be judged to have had slightly MORE culpability in their own demise , so to speak, due to their family connection.

 

[Trooper]

I think Melissa's brother made a claim also, didn't he? Was it $30,000? IIRC
But that claim doesn't appear to have gone through - maybe because he had no proof. And AK had to drop his claim for jewellery and other items - maybe because there is no proof that he purchased the items (because he didn't).

So, I am presuming there is proof of $950,000.

edited by me. .. ...

The brothers claim was about that darling apartment in Aspen!.. He'd been assured that he was the inheritor of it, along with the son, but , ... tssk tsk... the place was only rented, not owned.

( a very peculiar arrangement, as she must have paid rent on it year round to make sure she got the same apartment each time she did the ski thing in Colorado , )

The brother knew nothing of this and found out about the renting stuff when the Receiver was brought in by the lawyers. What a horrible shock. One can only imagine.

 

[SouthAussie]

edited by me. .. ...

The brothers claim was about that darling apartment in Aspen!.. He'd been assured that he was the inheritor of it, along with the son, but , ... tssk tsk... the place was only rented, not owned.

( a very peculiar arrangement, as she must have paid rent on it year round to make sure she got the same apartment each time she did the ski thing in Colorado , )

The brother knew nothing of this and found out about the renting stuff when the Receiver was brought in by the lawyers. What a horrible shock. One can only imagine.

I think the brother was also claiming money. I think there is a link somewhere that said how much it was, but I can't find the right link at the moment.

It is indicated in these links though.


'Could Mr Adam Grimley urgently provide to us details of the monies he and his parents have paid Ms Caddick to invest in shares which have not been returned to them,' Mr Hayter asked in the letter, which was tendered in court.
Melissa Caddick 'fleeced her own FAMILY including her elderly mum and dad and only brother'

The court was also told that Ms Caddick’s brother, Adam Grimley, was seeking to claim a stake in the Edgecliff property.
Federal Court rules on missing conwoman Melissa Caddick’s money

 

[Trooper]

It is indicated in these links though.


'Could Mr Adam Grimley urgently provide to us details of the monies he and his parents have paid Ms Caddick to invest in shares which have not been returned to them,' Mr Hayter asked in the letter, which was tendered in court.
Melissa Caddick 'fleeced her own FAMILY including her elderly mum and dad and only brother'

The court was also told that Ms Caddick’s brother, Adam Grimley, was seeking to claim a stake in the Edgecliff property.
Federal Court rules on missing conwoman Melissa Caddick’s money

Apparently , Melissa togged up a whole series of 'documents' that purported to convey ownership of the Edgecliff property to the G's, and to the brother, all very serious looking paper, which turned out to be entirely fictitious, and a deliberate scam of both her parents and the brother, which in itself, does not make their claims anymore liable for extra attention that any other 'investor'. She was not able to see into the future at all, really, that apartment was worth a bomb and paying it out would have been good business sense, since she had the money to do it, something Melissa did not have.

Instead, she ordered necklaces and didn't turn up for them. Joined racing clubs and didn't know one end of a horse from the other. Paid out thousands to Cranbrook , not just in fees but in donations to gain entrance to the Special Mothers club stuff. Cars that immediately depreciated. Artworks which were portable, and in the end, actually went portable. And so on.

Anthony's dad was / is a CPA, a certified Public Accountant, he did not have a bar of any of it, which should have been a flag to anyone. I do think the accountants Melissa roped in are in for a bit of a hiding in the courts , also. The father in law must have looked on all this palaver that Melissa and Anthony were up to, and rolled his eyes.

 

[JBowie]

60 Minutes update. New video of Caddick

Tom Steinfort has been reporting on the Caddick case for more than two years and this Sunday on 60 MINUTES reveals new vision he has obtained showing Melissa, her husband Anthony Koletti and her brother Adam Grimley on a night out before her disappearance. Steinfort’s latest investigation has also uncovered information which could provide a long-awaited glimmer of hope for Caddick’s many victims.

 

[Trooper]

There is something so particularly sleazy SYdneyish about this whole story . The brazen display of stolen money, in the house, the jewels, the cars, the kids school, the mum and dads apartment, the relentless social climbing, as the Manhattan crowd would say, an alpinist, ever clawing upwards, as she saw upwards to mean.

And watching that clip of 60 min, one can see how hard it was to believe what had happened to the people so affected, not so much by Melissa's death but by her life. One thing that struck me was Anthony' lying to the police etc, I think he just was in the habit of lying , it came naturally, I would find it hard to believe that he would kill off the goose that was laying all these golden eggs. He was totally dependent on her for walking around money.

I do think there is a connection between who knew what and precisely when it was known about the scam in its entirety. Some people had suspicions and removed their money early. Not many, I think maybe two , which leaves about 56 who didn't. There was only about 8 - 10 hours after the raid which blew the scam apart, and her disappearance. Not a lot of time, really.

This circus about the divvying up of the remnants after everything has been liquidized, all the junk made portable and all the claims competing for being the winner of the ' Really Idiotic Investors' race, ( I see the Grimleys as being about 20/1 on form ) will show that all that's left is a silent son and a couple of bereft spaniels, god alone knows where they are, in some good home, I hope.

 

[Doesitmakesense]

https://www.news.com.au/national/nsw-act/courts-law/conwoman-melissa-caddicks-parents-receive-950k-payout-for-edgecliff-apartment/news-story/5c07b938bc36352f951f75fb38183067

 

[Trooper]

https://www.news.com.au/national/nsw-act/courts-law/conwoman-melissa-caddicks-parents-receive-950k-payout-for-edgecliff-apartment/news-story/5c07b938bc36352f951f75fb38183067

Very very lucky people. . On the other hand, just short of a mill will not buy them anything east of Parramatta. Or south of Cobar , north of Holbrook. Not these days. And it is a win for the other investors in so far as that apartment is now worth about 4 and on a good day, maybe 5 mill, so it was probably all to the good to settle, even minus any paper that could be considered a contract. And that takes care of the brother, too. That's his lot, which works out about 333,000.oo each. But how much aggravation and unforgivable ashes the Grims have left among the other family members .... an unfortunate legacy.

 

[Estelle]

Maybe the G's attitude is part of the reason that Melissa had a narcissistic attitude. Maybe she was raised (and had the genetic makeup) to think of herself - and possibly her immediate family - above everyone else.


I do think there must be proof of $950,000 (of the original $1.1M they claimed) of the G's money being used, but misspent by Melissa, for the Edgewood apartment. Nobody seems to be denying the claim, not the court, nor the receivers, nor the investors.

I think Melissa's brother made a claim also, didn't he? Was it $30,000? IIRC
But that claim doesn't appear to have gone through - maybe because he had no proof. And AK had to drop his claim for jewellery and other items - maybe because there is no proof that he purchased the items (because he didn't).

So, I am presuming there is proof of $950,000.

The problem, as I see it, was that Melissa bought Edgecliff and only then talked her parents into selling their house and moving to Edgecliff a few months later. So their actual money did not go into Edgecliff really as Melissa already owned it having organised the mortgage.

 

[JBowie]

Another article:

The long-running legal battle over the ownership of fraudster Melissa Caddick’s eastern suburbs penthouse has been resolved, with her parents agreeing to vacate the property in return for receiving almost one million dollars.

Apart from an ongoing dispute with Caddick’s husband Anthony Koletti over several items of jewellery, the impending sale of the Edgecliff property will bring to a close the complicated unravelling of Caddick’s affairs.

. . .

Koletti, a hairdresser and part-time DJ, initially wanted millions of dollars from his wife’s proceeds of crime, including her Gucci wedding dress, $7 million in shares, $2 million worth of jewellery, two properties he suggested were valued at $20 million as well as the proceeds from the sale of their luxury cars.

He is now battling over cufflinks and rings, estimated to be worth around $20,000. [bbm]

Melissa Caddick’s parents to move out of $2.5m Sydney penthouse

The impending sale of an eastern suburbs property will bring to a close the complicated unravelling of the fraudster’s affairs.

www.smh.com.au

 

[JBowie]

Hence, her old mum and dad face the future in a Housing Commission flat in Campbelltown.

With $950k in the bank, they'll a do bit better than that.

With infirmity and age, they are probably at the stage where they'll buy a retirement unit -- somewhere other than Sydney methinks to avoid the notoriety.