Jewellery dripping with diamonds, prized art and designer handbags once owned by Melissa Caddick have sold for a fraction of what the fraudster is believed to have swindled.
The final hammer fell on the catalogue of “luxury goods” once owned by the self-styled financial adviser last night, with “strong interest” from the public driving the total amount raised for receivers to $860,000 over three auctions.
The items were sold off piece-by-piece so the proceeds could be used to repay some of the $23 million Caddick is accused of stealing from investors in an elaborate Ponzi scheme before she vanished in November 2020.
“The sale of these items represents completion of significant personal assets of the Receivership and our aim was to get this completed before the end of 2022,” Principal at Jones Partners, Bruce Gleeson, said.
“In particular, the overall prices achieved for the designer clothing and luxury goods and jewellery reflect the strong interest in the various items, specifically the Canturi jewellery collection.”
From the Canturi collection, Caddick’s famous black sapphire and diamond ”Stella” necklace with matching earrings, originally valued by auctioneers between $80,000 and $120,000, sold for $130,000.
Caddick’s infamous necklace sells after ‘frenzied’ bidding
The 18-carat white gold necklace, which she was pictured wearing multiple times, features an 83-carat Australian black sapphire set in diamonds.
Caddick originally paid $370,000 for it in 2015.
Another Canturi set, an 18-carat gold, diamond and gem necklace and earrings had an estimated value of $60,000-$80,000.
It was originally purchased for $285,000 and sold for $80,000.
An Oscar de la Renta ballgown Caddick purchased for $14,180 and was seen wearing in photos plastered all over the news after her disapperance fetched a meagre $1000.
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After selling much of Caddick’s remaining assets, including cars and her share portfolio, receivers are focusing on selling a property in Edgecliffe where her parents live.
They contributed almost $1.2 million to the purchase of the apartment, bought in Caddick’s name, on the condition they would have the right to live there rent-free until they died.
“We intend to schedule an Investor Meeting for early 2023 to provide a detailed update on the actions that have been undertaken and the timeframe to deal with remaining aspects for the Receivership and Liquidation during 2023,” Gleeson said.
“The sale of these assets has involved several applications to the Federal Court of Australia as part of advancing realisations.
“We are focused on dealing with the Edgecliff Property which forms part of the Receivership Property, as well as finalising our position regarding Maliver’s tax refunds in 2023.
Caddick disappeared in November 2020, hours after the Australian Federal Police and Australian Securities and Investments Commission raided her Dover Heights home in Sydney’s eastern suburbs.
Three months later the 49-year-old’s decomposing foot, encased in a running shoe, was found on Bournda Beach on the state’s South Coast.
It is believed about 74 victims lost at least $23 million through Caddick’s Ponzi scheme, over which she was set to face a string of charges.
Caddick is presumed dead.
