Melissa Caddick did not bother maintaining her eastern Sydney mansion despite the fact she was sitting on a $30million fortune, amassed by fleecing friends and family, court documents reveal.
The missing conwoman’s Dover Heights home, which she bought for $6.2million in 2014 but is now valued around $15million, is set to go up for sale in a private auction in coming months to help repay her victims.
But as nine real estate agents vie to sell the ritzy Wallagra Road property, liquidator Bruce Gleeson has told the Federal Court there is lots of work that needs to be done before it can be placed on the market.
In an affidavit released on Wednesday, Mr Gleeson revealed the swimming pool does not comply with council regulations, the house has a number of building and maintenance issues and it needs cleaning.
Melissa Caddick’s Dover Heights mansion (pictured) will go up for auction in coming months – but first needs a series of repairs
Conwoman Melissa Caddick is pictured with her husband Anthony Koletti
Mr Gleeson also revealed Caddick’s husband Anthony Koletti left a number of items in the property when he vacated the home in May, which has delayed efforts to get the mansion ready for sale.
‘On May 27 2022, I obtained a quote for the storage of the items left at the property and cleaning,’ Mr Gleeson’s statement reads.
‘The Receivers have not yet approved the quote for the cleaning as the remaining chattels need to be removed first.’
The items of commercial value were collected on June 21 and will be sold by liquidators as they try to recoup the more than $23million Caddick owed to 74 investors who entrusted her with their life savings.
They believed she was trading it on the stock market but instead she was squandering their funds on designer clothes, jewellery, overseas trips, multi-million dollar properties, and luxury cars.
Caddick’s parents Ted and Barbara Grimley, who gave their daughter money for a penthouse in Edgecliff they currently reside in, are fighting to keep the property as it is pursued by liquidators.
Mr Gleeson also revealed Caddick’s husband Anthony Koletti left a number of items in the property when he vacated the home in May, which has delayed efforts to get the mansion ready for sale
Investors believed Caddick (pictured) was trading their money in the stock market but instead she was squandering their funds on designer clothes, jewellery, overseas trips, multi-million dollar properties, and luxury cars
Caddick’s decomposed foot washed up on a beach 450km away from her home three months after her disappeared
However, Caddick’s brother Adam, who has a one per cent share of the Dover Heights property has confirmed he will sign what documents are needed to sell it, Mr Gleeson said in the affidavit.
Last November, the Federal Court ruled Caddick and her company Maliver breached corporation laws by conducting business without holding an Australian Financial Services licence.
Authorities received an anonymous tip Caddick was operating a financial services business without a license in 2019, a crime that can attract a $20,000 fine and jail time.
On November 11, 2020, ASIC and the Australian Federal Police conducted a raid of her Dover Heights mansion in Sydney’s east and confiscated luxury clothes, shoes, handbags, and jewellery.
Authorities received an anonymous tip Caddick (pictured with Koletti) was operating a financial services business without a license in 2019, a crime that can attract a $20,000 fine and jail time
The next day, on November 12 at 5.30am, Caddick left home for a morning run, leaving behind her keys, wallet, and mobile phone, and disappeared.
Three months later, her decomposing foot was discovered washed ashore about 400km south on Bournda Beach, and police soon after declared she was presumed dead.
In total, Caddick stole $30million from investors, with just $7million ever returned to clients.
An inquest into Caddick’s disappearance and suspected death will be held in September.