Type to search

Christian Dior loses bid to keep Melissa Caddick’s money

Ponzi Scheme

Christian Dior loses bid to keep Melissa Caddick’s money



This was a reference to last week’s auction of Caddick’s jewellery which realised $884,618 (including 25 per cent buyers’ premium). Caddick used $1.8 million of stolen funds to acquire the more than 50 pieces of jewellery designed by Stefano Canturi, which were auctioned.

The court has previously heard that over an eight-year period from October 2012 Caddick stole more than $23 million from her clients, who were mainly family and friends.

“Unfortunately, Ms Caddick’s success was all a facade and the financial services business was an elaborate front for Ms Caddick’s Ponzi scheme,” counsel for ASIC, Farid Assad, SC, previously told the court.

Instead of investing their money in shares, Caddick used the funds to pursue an extraordinarily lavish lifestyle which included designer clothes, overseas travel, real estate purchases, luxury vehicles and jewellery.

Adam Grimley, the older brother of Caddick, has abandoned the claims over her estate.Credit:Louise Kennerley

Caddick, 49, vanished on November 12, 2020, hours after her Dover Heights home was raided by Australian Federal Police officers acting on behalf of the corporate regulator, ASIC. Her husband Anthony Koletti, 40, did not report his wife missing for 30 hours.

Caddick’s partial remains washed up in her running shoe on a remote NSW south coast beach in February 2021.

The Federal Court heard that the coronial inquest into her disappearance and presumed death was yet to be completed and that a final…

Read more…

Leave a Comment

Your email address will not be published. Required fields are marked *