Twist in fight for Caddick’s $10k sneakers

Melissa Caddick (right) with husband Anthony Koletti before she disappeared owing millions to investors. Picture: Supplied
Melissa Caddick (right) with husband Anthony Koletti before she disappeared owing millions to investors. Picture: Supplied

Melissa Caddick’s husband will be allowed to keep his wedding ring while her son has been permitted to keep half his sneaker collection as receivers attempt to claw back some of the fraudster’s stolen millions, a court has been told.

Caddick vanished in November 2020, a day after the Australian Securities and Investments Commission raided her Dover Heights over a $23m Ponzi scheme which she used to fund a luxurious lifestyle.

While posing as a financial adviser in Sydney’s eastern suburbs, she fleeced $23m from more than 50 investors, who are seeking to be paid back some of their losses.

A coroner earlier this year found that Caddick was dead but could not determine her manner or cause of death after a foot washed up on the NSW south coast three months after the fraudster went missing.

Receivers have begun selling her assets, including cars, designer jewellery and two multimillion-dollar homes, to repay the wronged investors.

A $3m “initial distribution” payment to be shared between 55 investors was announced in August by accounting firm Jones Partners.

Earlier this year the court heard that receivers were seeking access to Ms Caddick’s son’s sneaker collection, which they said could be worth tens of thousands of dollars.

Melissa Caddick MD and Financial planner, at home in Paddington. pic by Andy Baker.
Melissa Caddick stole millions from her duped investors. Picture: Andy Baker.

On Monday morning, Michael Hayter, the solicitor acting for the receivers, told Justice Brigitte Markovic that the receivers had come to an agreement with the family for Caddick’s son to retain some of the sneakers from the collection.

Mr Hayter said that he would be allowed to keep the sneakers worth less money, while the receivers would sell off the more high-end footwear.

“A deal has been done with (Caddick’s husband Anthony Koletti) on behalf of (Caddick’s son) that the (son) retain half of the lesser-value sneakers and the receivers will then realise the higher net worth value sneakers,” Mr Hayter told the court.

According to orders made by Justice Markovic, Mr Koletti and Caddick’s son will be allowed to keep seven pairs of shoes, including Air Jordans and Nike Dunks.

She also ordered that Mr Koletti hand over the rest of the collection within five days, including Air Jordans, some of which were made in collaboration with celebrated designer Virgil Abloh and rapper Travis Scott, and other Nike shoes.

Some of the shoes sell for up to $10,000.

Assignment Freelance Picture Melissa Caddick's husband has been ordered to turn over several pairs\n of designer shoes from her son's collection. Picture: Supplied.
Melissa Caddick's husband has been ordered to turn over several pairs of designer shoes from her son's collection. Picture: Supplied
Assignment Freelance Picture Melissa Caddick's husband has been ordered to turn over several pairs\n of designer shoes from her son's collection. Picture: Supplied.
Some of the shoes sell for thousands of dollars. Picture: Supplied

The Federal Court was also told that Caddick’s son would be allowed to keep $8500 in a bank account in his name.

The court was previously told the receivers were seeking funds in a bank account that contained $21,000.

Mr Koletti’s solicitor Richard Allsop told the court at the time that about $8500 came from untainted sources.

Mr Hayter on Monday said receivers were satisfied that $8500 of that money was either deposited by other family members or cash deposits.

Melissa Caddick, with husband Anthony Koletti, before her disappearance. Picture: Supplied.
Melissa Caddick, with husband Anthony Koletti, before her disappearance. Picture: Supplied.

Mr Hayter also told the court there had been “a lot of progress” in a dispute between the receivers and Mr Koletti after he attempted to claim some of his wife’s possessions.

He said Mr Koletti was now only making a claim over several items worth “a few thousands dollars”.

Justice Markovic ordered that Mr Koletti be allowed to keep several pieces of jewellery, including a Breitling Navitimer chronograph watch, a Louis Vuitton digital wrist watch, a Canturi 18-carat cross pendant and his 18-carat Canturi wedding ring.

The family is also allowed to keep two of Caddick’s Gucci dresses.

The court was told that two superannuation accounts in Caddick’s name – each containing approximately $30,000 each – would be recovered to pay back investors.

Mr Hayter told the court that one of the super funds had been topped up using ill-gotten investor funds.

But he said only some of the contributions in the other fund had been made after Ms Caddick established her financial services business.

Caddick House Walk Though
Melissa Caddick’s Dover Heights mansion was raided just hours before her disappearance. Picture: NewsWire / Monique Harmer.

Caddick’s brother Adam Grimley was listed as a co-trustee on that account; however, the court was told his signature on the documents was forged.

“Mr Grimley says his signatures were forgeries and he knew nothing about the superannuation fund,” Mr Hayter said.

Despite only some of the money coming from investors, all of that account would be used to pay back investors.

“It could be deemed to be Ms Caddick’s money in which Ms Caddick’s assets could be deemed to be part of the receivership assets,” Mr Hayter said.

Mr Hayter said no one from Caddick’s family had made a claim over the money held in the account.