Who is Melissa Caddick? What’s the hype around her?

November 24, 2021 05:39 PM AEDT | By Samta

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Who is Melissa Caddick? What’s the hype around her? — Image source: bangoland, Shutterstock.com

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Highlights

Melissa Caddick went missing in 2020, just a day after ASIC agents raided her home in NSW.

Caddick had allegedly siphoned off millions from investors by creating false documents.

After a thorough investigation, a foot was discovered on the southern coast of NSW, which was confirmed to be Caddick’s through DNA test.

Melissa Caddick was an Australian financial advisor who disappeared last year amid an Australian Securities & Investments Commission (ASIC) investigation.

The Australian Federal Court found that Melissa was engaged in unlicensed conduct before her disappearance on 12 November 2020. She allegedly ran a Ponzi Scheme and vanished just a day after ASIC agents and the Australian Federal Police raided her home in New South Wales.

Notably, the most suspicious part of this missing case was that Ms Caddick left her home without taking her mobile phone, keys, or wallet.

As per media sources, Caddick was suspected of stealing around AU$30 million from investors, including her friends and family. But after months of investigation, partial human remains (a foot) were discovered on the southern coast of New South Wales in February 2021, which were confirmed to belong to Melissa through DNA testing.

However, her suspected death is yet to be confirmed as the rest of her body was never found.

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What ASIC is doing to recoup her clients’ money?

Following Ms Caddick’s disappearance, ASIC is now pursuing court action to recoup her clients’ money. As a result, Ms Caddick’s assets, including her AU$6 million Dover Heights home, are likely to be sold to pay back around 72 clients, who reportedly lost more than AU$23 million to Caddick’s Ponzi scheme.

As per media reports, Caddick conned investors using false documents using a CommSec letterhead.

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