Tue. Jan 31st, 2023
Melissa Caddick: $15M mansion goes up for auction as it’s revealed she didn’t bother with repairs

Melissa Caddick didn’t bother to maintain her eastern Sydney mansion, despite sitting on a $30 million fortune amassed by grooming friends and family, court documents reveal.

The missing conwoman’s home in Dover Heights, which she bought for $6.2 million in 2014 but is now worth about $15 million, will go up for sale in a private auction in the coming months to help pay back her victims.

But as nine real estate agents compete to sell the swanky Wallagra Road property, liquidator Bruce Gleeson has told federal court there’s a lot of work to do before it can go on the market.

In an affidavit released Wednesday, Mr Gleeson revealed that the pool does not meet council regulations, the house has a number of construction and maintenance issues and needs to be cleaned.

Melissa Caddick’s mansion in Dover Heights (pictured) is up for auction in the coming months – but needs a series of repairs first

Conwoman Melissa Caddick is pictured with her husband Anthony Koletti

Gleeson also revealed that Caddick’s husband Anthony Koletti left a number of items in the property when he left the house in May, delaying efforts to get the mansion ready for sale.

“On May 27, 2022, I received a quote for the storage of the items left at the property and for cleaning,” said Mr Gleeson.

‘The trustees have not yet approved the quotation for the cleaning because the other movable property must first be removed.’

The items of commercial value were collected on June 21 and will be sold by liquidators as they attempt to recoup the more than $23 million that Caddick owes to 74 investors who have entrusted her with their savings.

They thought she traded it in the stock market, but instead wasted their money on designer clothes, jewelry, overseas travel, multi-million dollar properties and luxury cars.

Caddick’s parents Ted and Barbara Grimley, who gave their daughter money for a penthouse in Edgecliff where they currently live, fight to keep the property as it is pursued by liquidators.

Gleeson also revealed that Caddick’s husband Anthony Koletti left a number of items in the property when he left the house in May, delaying efforts to get the mansion ready for sale.

Investors thought Caddick (pictured) traded their money in the stock market, but instead wasted their money on designer clothes, jewelry, overseas travel, multi-million dollar properties and luxury cars

Caddick’s rotten foot washed up on a beach 450km from her home three months after she disappeared

However, Caddick’s brother Adam, who has a one percent stake in Dover Heights’ ownership, has confirmed that he will sign whatever documents are needed to sell it, Mr Gleeson said in the affidavit.

Last November, the federal court ruled that Caddick and her company Maliver had broken company laws by conducting business without an Australian financial services license.

Authorities received an anonymous tip that Caddick ran an unlicensed financial services company in 2019, a crime that could carry a $20,000 fine and jail time.

On November 11, 2020, ASIC and the Australian Federal Police raided its mansion in Dover Heights in eastern Sydney, seizing luxury clothing, shoes, handbags and jewellery.

Authorities received an anonymous tip Caddick (pictured with Koletti) ran an unlicensed financial services company in 2019, a crime that could carry a $20,000 fine and jail time

The next day, at 5:30 a.m. on November 12, Caddick left the house for a morning run, leaving behind her keys, wallet, and cell phone, and disappeared.

Three months later, her decomposing foot was discovered washed up about 400 km south of Bournda Beach, and soon after, police declared her presumed dead.

In total, Caddick stole $30 million from investors, of which only $7 million was ever returned to customers.

An investigation into Caddick’s disappearance and presumed death will be launched in September.

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