$10m Sydney home sale not enough for creditors

The victims of one of Australia’s most infamous fraudsters have been left aghast at what they will get back from her estate – including the funds from her luxury home. Clients ripped off by Melissa Caddick, who has been declared dead, will receive just 40c in the dollar for what they were owed by the wealthy con artist. It is believed Caddick misappropriated around $30m of her clients’ finances. A major move in clawing back those funds was the sale of her multi-level Dover Heights home, which boasts Harbour Bridge and Opera House views and a swimming pool, for $9.8m. That mansion in Sydney’s affluent Eastern Suburbs was raided by authorities in 2020, amid claims the 49-year-old accountant had operated an expansive Ponzi Scheme. Caddick disappeared the day after the raid and has never been seen again. MORE: Jackie O’s cunning $30m exit plan amid Kyle split Melissa Caddick. In May 2023, the NSW Coroner’s Court declared Caddick deceased, after her decomposed foot was found washed up on a beach on the NSW South Coast. Now as the saga, which was the subject of a Channel 9 miniseries: Underbelly: Vanishing Act, comes closer to a conclusion, court-appointed receiver from insolvency firm J...