The ongoing investigation into missing businesswoman Melissa Caddick’s financial records has uncovered more allegedly fraudulent documents and falsified transactions.
Ms Caddick disappeared from her home in Dover Heights, in Sydney’s affluent eastern suburbs on November 12 last year and has not been seen or heard from since.
She is suspected of allegedly stealing “tens of millions” of dollars from potentially hundreds of investment clients.
The Australian Federal Police (AFP) raided her home as part of an ASIC investigation just days before she disappeared.
In December last year Bruce Gleeson and Daniel Soire Jones Partners were appointed by the Federal Court of Australia as provisional liquidators of her wealth management company, Maliver Pty Ltd.
Mr Gleeson, Principal at the firm said since then “we have been forensically reconstructing the financial affairs of Melissa Caddick” and her company.
“This has involved reviewing thousands of documents, interviewing and corresponding with various individuals including family members, a former employer, former employees and notably many investor creditors,” he said today.
Further investigations have found neither Ms Caddick nor her business held a current AFS licence, required under Australian law to provide financial services.
Instead of investing funds from investors, Ms Caddick allegedly transferred money from the business into her personal accounts.
The businesswoman also created false documents using a Commonwealth Bank or CommSec letterhead – documents which the bank has confirmed used fake reference or account numbers.
The review also found Ms Caddick’s self-managed super fund was full of fake portfolio statements, contract notes and bank statements so as to inflate the value of assets.
Money was transferred between her company and personal bank accounts, making liquidating her company and redistributing assets to people who are owed money more complex.
“…a majority of assets which Maliver Pty Ltd has an interest in are held in the name of Ms Caddick,” Mr Gleeson said.
“There are also assets which are held directly in Ms Caddick’s name. Importantly, at this stage, our appointment as receivers to Ms Caddick’s property does not authorise us to sell her assets.”
Mr Gleeson said there would be a number of difficulties in returning the value of assets to investors who were ripped off by Ms Caddick’s operation.
“Currently, our primary role as Receivers has been to investigate and file our report and also secure the assets of Ms Caddick,” Mr Gleeson added.
“There are many complex legal issues in determining ownership of assets and just as importantly how best to proceed to enable the expeditious realisation of assets in both administrations and maximise the return to creditors, particularly the Investor Creditors who have been significantly emotionally and financially impacted.”
He described the situation as “unusual” and urged anyone aware of any assets, or believed to be owed money to come forward.
