She spent $63,000 on Fijian holidays, $37,000 on a New York jaunt as well as numerous trips to Aspen costing well over $120,000. She also forked out $25,000 on protein shakes from Isagenix.
Her victims think her disappearance was planned once she knew the net was closing around her. “Everything was scheduled, organised, regimented. She controlled everything and nothing was left to chance,” said one woman who invested $780,000, the last $40,000 going to Ms Caddick in September.
Most of the investors were friends, employees and family members which make it all the more of a “betrayal” said another investor. To date, ASIC has identified 61 potential victims.
The corporate watchdog ASIC will appear in the Federal Court on Tuesday seeking to have a liquidator appointed to Maliver Pty. Ltd, Ms Caddick’s company which was allegedly used to siphon off investors’ funds.
ASIC noted she had made 25 overseas trips between 2009 and 2020 and she had almost $340,000 in US dollars but the balance as of August 21 was nil. The affidavit, which was filed the day before she disappeared, said the corporate watchdog was “concerned that Ms Caddick was a flight risk as she has “the capacity and means to travel overseas at short notice.”
Ms Caddick disappeared sometime between 7pm on Wednesday, November 11, when the last of the Federal Police who were executing search warrants on behalf of ASIC left, and Thursday at 5.30 am when her 15–year-old son told police he heard the front door shut and thought it was his mother going for a run.
Several of her friends have cast doubt over whether Ms Caddick may have gone for a run at 5.30 am. They told the Herald that she had an ankle injury which was curtailing her exercise and instead she was restricting herself to the use of the treadmill, in the family gym on the third floor of the house.
Ms Caddick was ordered to attend the Federal Court in Sydney’s Queens Square on the Friday morning. Instead, her husband Anthony Koletti, 38, who is not accused of being involved in Ms Caddick’s fraud, turned up to court to say he didn’t know where his wife was as she had left home without her phone the previous day.
He then reported her missing to Bondi police around midday on Friday. By then more than 30 hours had elapsed.
A total of $7.88 million was deposited with Ms Caddick in the period December 4, 2019 until September 16, 2020, according to court documents. She withdrew $7.877 million during the same period with sums of money going to pay expenses, mortgages and some transferred to other accounts.
Many of Ms Caddick’s victims are distressed and angry that her hairdresser husband is asking the court to release money to maintain his lifestyle and that of his teenage stepson.
“Every bit of money [spent] on their lavish lifestyle with our money is less for us,” said one investor, who has estimated she and her partner have lost close to a million dollars, including interest earned on their $780,000 self-managed super fund they entrusted to Ms Caddick in 2016.
However, the court documents also reveal that due to a dental appointment one Woollahra woman had an extraordinary escape.
Through a friend, she had met Ms Caddick skiing in Aspen in January this year. Ms Caddick initially knocked her back telling her books were full but she was later admitted to the scheme. She told ASIC investigators that she was given the name of two referees for Ms Caddick and by April she had invested $2.5 million. “I will take care of you, I am being cautious and taking opportunities when they present,” wrote Ms Caddick in an email to her new client.
On August 13, while in the dentist’s waiting room, the investor struck up a conversation with a fellow patient who told her Ms Caddick was using her Financial Services Licence without her authorisation.
The investor immediately rang Ms Caddick and told her she wanted her money back as she was interested in purchasing another property. She not only received her $2.5million but also her “fake” returns of $300,000. Like others, she has subsequently discovered her CommSec account did not exist.
After Ms Caddick returned her money, she asked the woman if she could refer one or two people to “our business – now that you know what we do.” Instead of referring potential new victims, the woman spoke to ASIC.
A group of Perth surgeons is among the largest investors with one doctor investing between $4 million to $5 million with Ms Caddick.
According to an affidavit provided to the court by ASIC investigator Isabella Allen, Ms Caddick’s share trades were not the astounding success she told her clients. The total loss on 47 stocks she was trading was $1.2 million.
Of the remaining 14 shares she still holds, they are showing a loss of $411,000.
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Kate McClymont is an investigative journalist at The Sydney Morning Herald.