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Owner of funds in Melissa Caddick’s accounts unclear, court hears
Although the fate of accounts and assets owned by fraudster Melissa Caddick has mostly been finalised, the Federal Court remains stumped on what to do with funds transferred into several bank accounts.
Naomi Neilson
On Monday morning (13 November), the Federal Court heard there has been a “complete backing down” by Ms Caddick’s husband, Anthony Koletti, who has told lawyers he has given up ownership over certain assets in exchange for a few thousand dollars in luxury goods.
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Michael Hayter, counsel for receivers at Jones Partners, said they would hand over these goods, including a Breitling watch, to save the legal costs and court time in resolving the issue.
The remaining assets will be received by Jones Partners as part of an effort to return some of the $30 million owned by family and friends who invested in Ms Caddick’s scam.
Ms Caddick disappeared in November 2020, the day after the Australian Securities and Investments Commission (ASIC) raided her home. The NSW Coroners Court has since determined she is deceased.
A sneaker collection owned by Ms Caddick’s stepson had also been in dispute but was settled on Monday, with Mr Hayter informing Justice Brigitte Markovic that the stepson will keep half of the lesser-value sneakers.
“A deal has been done with Mr Koletti on behalf of the stepson that the stepson retain half of the lesser-value sneakers, and the receivers will then realise the higher-net-worth value sneakers,” Mr Hayter said.
The stepson will also keep $8,500 in his bank account, part of which had been transferred from other family members or were cash deposits.
A further $60,000 in superannuation accounts will be split, but Justice Markovic was not satisfied with a claim on funds remaining in four other bank accounts as it was not clear who the funds belonged to.
Mr Hayter told the court some of the funds were deposited before the dates of Ms Caddick’s misappropriation.
As part of the receivers’ investigation, Mr Hayter said they questioned Mr Koletti and Ms Caddick’s brother, Adam Grimley, about signatures confirming them as co-trustees for the accounts.
Both men said the signatures were forgeries.
Investors will be notified in the coming weeks about these transfers to determine who the money may belong to.
Justice Markovic said there remained a “small wrinkle” in orders proposed by the parties to restrain publication of the names of some of the out-of-pocket investors given a new class action was announced.
The class action, filed by Mackay Chapman on behalf of 24 victims, targets auditors engaged to review annual financial reports.
