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Uncertainty about if and when “Ponzi scheme mastermind” Melissa Caddick died is complicating scammed investors’ attempts to recoup lost funds. The self-styled financial adviser went missing in November 2020 hours after the corporate regulator raided the then-49-year-old’s home in Sydney coastal suburb Dover Heights. The Federal Court has since been told she swindled more than $30 million in funds over eight years, leaving investors a shortfall as high as $23.7 million. Corporate regulator ASIC has sought orders that would have an insolvency practitioner take over Ms Caddick’s estate and begin the work of calculating the partial returns available to investors and other creditors. Doing so would lead to efficiencies and “obviate or at least reduce the need for full-blown” litigations, Farid Assaf SC said on Wednesday. Ms Caddick’s family seeking particular pieces of property would have a forum to make a claim while…

Read full article at www.northweststar.com.au

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