Emails Melissa Caddick allegedly sent investors of her ‘wealth management’ company have been revealed in court documents
In an email to a prospective client on April 3 this year, missing businesswoman Melissa Caddick wrote: ‘I will take care of you’.
That client is very lucky if the allegations against the wealthy businesswoman of massive fraud and misappropriation of millions are true.
That’s because, unlike many of the unnamed investors who trusted Ms Caddick with their money, she managed to get her $2.5 million investment back – plus $300,000 profit.
Emails and witness accounts lodged with the Federal Court give an insight into how Ms Caddick allegedly ran her ‘wealth management’ company.
The documents can be revealed as receivers and liquidators were formally appointed over Ms Caddick’s personal assets and business, Maliver Pty Ltd.
The receivers will have the power to take control of Ms Caddick’s two multi-million dollar properties, in Dover Heights and Edgecliff, with 21 days’ notice – although the financial watchdog, ASIC, has told a court her family are not about to be evicted.
‘Just something to think about…’ A digitally mocked up email from Ms Caddick to the investor named ‘Witness C’, as detailed in court documents
The newly released court documents reveal how Ms Caddick allegedly found herself investors through word of mouth and promises of dazzling returns.
One investor recalled meeting Ms Caddick for the first time via a mutual friend while holidaying in Aspen, Colorado this past January.
They became friends, meeting up months later for coffee in Woollahra in Sydney’s east to discuss options. The investor even dined with Ms Caddick at her home.
In an email, Ms Caddick allegedly told the investor to deposit her money into her Commonwealth Bank account, so she could apparently purchase shares on the investor’s behalf.
‘I will take care of you,’ Ms Caddick said, according to court documents. ‘I am being cautious and taking opportunities when they present.’
Ms Caddick allegedly sent the woman a ‘Financial Services Guide’ for Maliver which used another adviser’s financial services license.
After briefing the investor on the annual 0.75 per cent fee she charged, Ms Caddick then allegedly told the investor to pay up.
‘To commence establishment of the account please EFT funds of approximately $500,000 to the below account,’ she said, according to court documents.
But ASIC has claimed Ms Caddick never set up a CommSec share trading account for the investor, or for many others.
As Daily Mail Australia has previously reported, this investor allegedly only got her money back after she ran into the same financial adviser whose license Ms Caddick was allegedly using, during a chance encounter at the dentist.
The woman called Ms Caddick to say she wanted the money back so she could buy a property instead, court documents said.
Ms Caddick later emailed her in August about the option of buying a property.
‘I know you love property – just something to think about,’ Ms Caddick allegedly said wrote, before running the client through a proposed investment.
‘Cost to purchase 2.2(million) plus stamp duty $106k plus reno’s say $100k. Total let’s say $2.4 (million). 25% return – $600k.
‘Just putting it out there. I’m just thinking if that is your strategy of making money we were doing it and can will continue to do so (sic).
‘Of course with all investment there is risk. Let’s chat a bit later today.’
Melissa Caddick hasn’t been seen since disappearing from her Dover Heights home more than a month ago. Above, in a 2015 photograph with her husband Anthony Koletti, who is not suggested to have knowledge of Ms Caddick’s alleged financial misconduct
Several clients signed up to Maliver after friends told them they were ‘very happy’ with their returns, the court heard.
One investor claimed to a friend he had ‘doubled’ his investment profile with Ms Caddick’s firm.
ASIC has claimed some $20 million was deposited in Ms Caddick’s ‘investment’ account over a two-and-a-half year period.
Ms Caddick was the company’s sole shareholder and director. But regulators no longer have the opportunity to interview her about what she knows.
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The businesswoman went missing from her Dover Heights home on November 12.
That was two days after being raided by as many as 20 Federal Police officers and a further 20 ASIC agents over a 13 hour period, from 6am to about 7pm.
Authorities are investigating if Ms Caddick may have intentionally run off.
Ms Caddick’s $6.1 million cliffside home can be ‘possessed’ by receivers under recent court orders
The Federal Court this week ordered receivers and provisional liquidators to report back about Ms Caddick and her company’s assets in mid-February 2021.
The court was told earlier this week that receivers were not looking to seize her Australian properties but could go after her alleged apartment in Aspen, Colorado.
Liquidators have also been handed the tricky task of determining the likely return creditors that can expect from Ms Caddick’s company if it is wound up.
Ms Caddick’s husband, Anthony Koletti, and teenage son have been allowed to access a larger sum of money from Ms Caddick’s assets for their ordinary living expenses.
They were originally allowed $800 per week but that was bumped up to $1,700 per week, after Mr Koletti revealed he had just $1.95 in his bank account as of December 4, and feared he would be unable to meet the basic necessities of life.
The court heard some investors were ‘deeply aggrieved’ about Ms Caddick’s family getting more money as it could affect what sums, if any, they get back. The case returns to court in 2021.
