Melissa Caddick wearing a sapphire and diamond necklace, with her husband, Anthony Koletti.
Distressed victims who invested millions of dollars with missing Australian woman Melissa Caddick objected to her husband and son requesting what was described as a “staggering” A$4880 (NZ$5188) a week for living expenses, an Australian Federal Court hearing was told. Stephanie Fendekian, representing the corporate regulator Australian Securities and Investments Commission (ASIC), told the court on Tuesday that investigations into Caddick’s alleged misappropriation of clients’ funds commenced on September 8 and that she disappeared shortly after her accounts were frozen and her Sydney house was raided, which took place last month.
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Financial documents presented to the court show that $20 million went into her accounts between January 2018 and September 2020.
Not only did she make a substantial loss trading shares, but credit records show Ms Caddick spent almost $1 million on luxury shoes, clothes, accessories and jewellery, including $250,000 at Christian Dior alone.
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These items were seized by police during the raid on Ms Caddickâs Wallangra Road home in November.
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Ms Caddick also splashed out hundreds of thousands of dollars on luxury holidays and the court heard that she may have purchased real estate overseas, including property at the upmarket ski resort in Aspen, Colorado. ASIC has found $4 million in her accounts, the court heard.