Luxury cars

Melissa Caddick’s luxury cars will go under the hammer later this month

Melissa Caddick’s clients, who were scammed out of millions by the Sydney fraudster, are about to get some of their money back.

The 49-year-old disappeared from her eastern suburban home in November 2020 after posing as a financial adviser and leaving 72 investors more than $23 million out of pocket.

Ms Caddick’s decomposed foot was later found on Bournda Beach near Tathra, around 500 kilometers from Sydney, three months after she went missing.

Liquidator Bruce Gleeson of Jones Partners has announced that two luxury cars owned by Ms Caddick’s company, Maliver Pty Ltd, will go under the hammer later this month.

A 2016 Audi R8 V10 and a 2016 Mercedes-Benz CLA45 AMG will be auctioned online at 6 p.m. on February 21.

The original price of luxury rides purchased new was a minimum price of $142,000 and $89,000 respectively.

Ms Caddick’s five-bedroom family home in Dover Heights, which she bought for $6.2million in 2014, is also set to hit the market in the coming months.

The 2016 Audi R8 Plus V10 is one of two luxury cars that will be auctioned on February 21.(Provided: Jones Partners )

Mr Gleeson said liquidating Ms Caddick’s assets was a crucial step towards paying off the many victims of his Ponzi scheme.

“This is an important step in initiating the process of realizing assets in liquidation,” he said.

“We are also pursuing other efforts, including recovering any tax refunds in the liquidation.”

At a hearing last year, Ms Caddick embezzled money from investors over an eight-year period to buy real estate, luxury goods and vacations.

The fraudster sent his clients fictitious portfolio reviews through his Maliver financial services store.

a car
The money from the sale of the luxury cars will be used to repay the investors who were defrauded by Ms Caddick.(Provided: Jones Partners )

Ms Caddick disappeared a day after her home in Dover Heights was raided following an investigation by the Australian Securities and Investments Commission (ASIC).

Prior to her death, she faced 38 charges, including several counts of fraud and falsely claiming she held a financial services license.

Mr Gleeson said Ms Caddick’s home in Dover Heights and another family-owned property in Edgecliff would soon be ready for liquidation.

“We are taking legal action to expedite the sale of these assets to move forward with being able to return the money to investors,” he said.