Melissa Caddick’s alleged victims detail their betrayal at the hands of ‘someone they trusted’
Melissa Caddick “lived large” off the fortune she acquired from the friends and family she’d betrayed, her alleged victims claim.
The 49-year-old businesswoman vanished without a trace from her Dover Heights home on November 12.
Days earlier, her living room was crawling with Australian Federal Police probing reports of a large-scale Ponzi scheme.
As charges are prepared for Caddick, 15 investors who allegedly fell victim to her ploys have combined to put forward a “Position Paper” for the Federal Court.
Supplied to 7NEWS.com.au on the condition of anonymity, the document details how the victims felt they were betrayed by “someone they trusted”.
“Each of the investors became an investor following a strong personal recommendation from people they trusted – people who were long standing friends of Melissa Caddick or her family members,” Dominic Calabria, a partner at Bridges Lawyers detailing the investors’ plights, said.
“In almost all cases, the relationship with Melissa Caddick or her family member spanned a period of two or more decades.”
According to the document, investors were provided with extensive documentation that appeared to be originally issued by one of the big four banks.
“As it now transpires, all of that documentation and the information on the website were completely fabricated,” the document alleges.
“An investor in these circumstances would have needed to call the bank, the share trading organisation and the relevant share registry to verify that all seemingly legitimate documetation and information that had been provided to them was not fraudulent.
“We expect that there would have been many investors in Australia who have not doubted such documents provided to them and taken these steps in relation to their investment.”
No “red flags” were raised by investors, as extensive documentation was provided when it was asked for.
Caddick would also promptly offer funds if withdrawals were requested.
The law firm believes investors may be in the red to the tune of more than $25 million.
Caddick, who purported to be a “financial adviser”, lived a life of luxury.
She was widely known for having a hankering for designer clothing and jewellery.
Her husband Anthony Koletti had previously told the Federal Court she was the “bread winner” of the family.
A self-described “part-time hairdresser”, he told the court he had only $1.95 in his bank account and requested an allowance for weekly expenses for himself and Caddick’s teenage son.
There is no suggestion he knows anything about Caddick’s disappearance or alleged wrongdoings.
ASIC’s case against Caddick will return to court on February 22.
Administrators of her company are expected to offer an insight into their investigation into where the money has gone