Tweet Facebook Mail Melissa Caddick's victims are set for more compensation after a court approved the biggest distribution of the fraudster's assets to date. The group of defrauded investors should be paid $4.25 million within two days, Justice Brigitte Markovic ruled today in a Federal Court hearing.
It is the second court-enforced distribution of Caddick's assets after liquidators recouped $3 million of the dead fraudster's money for a payment made in 2023. DAY 11 WRAP: Gold at 14, Boomers bounced, world record at the velodrome Melissa Caddick's victims are set for more compensation after a court approved the biggest distribution of the fraudster's assets to date. (Nine) Her luxury penthouse was sold in March for around $5 million , less than the $5.
5 million asking price for the apartment atop the Eastpoint Tower in Sydney 's well-heeled eastern suburbs. But the combined $7.25 million paid to victims still only represents a fraction of the money she swindled.
Caddick, a self-styled financial adviser, plundered around $23 million from family and friends via an investment scam while living a life of luxury from the proceeds. READ MORE: Kamala Harris picks Tim Walz as running mate in US election The $3 million previously paid to investors came following the sale of her share portfolio and Dover Heights clifftop mansion. The 49-year-old disappeared in November 2020, days after her luxury home was raided by ASIC agents investigating reports of her Ponzi scheme.
Coroner Elizabe.