Melissa Caddick Found to Have Operated Without a Financial Services License for Eight Years

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Melissa Caddick, the missing lady, was determined to have participated in unauthorized behavior previous to her disappearance, according to the Federal Court.

Ms Caddick was found to have been operating without a suitable financial license from October 2012 to November 2020, according to the court.

Her firm, Maliver, which handled tens of millions of dollars in investor funds, had been operating without the necessary license from June 2013 until November 2020.

Ms Caddick vanished from her house in Sydney’s Dover Heights on November 12, last year, following raids by the Australian Federal Police in response to a tip that she was falsifying investments.

In February, the remnants of Ms Caddick’s foot washed ashore on a South Coast shore and over 250 kilometres distant.

A coroner’s report regarding her disappearance and presumed death has yet to be issued.

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Following the Federal Court’s ruling today, Jones Partners’ Bruce Gleeson and Daniel Soire have been appointed as receivers of Ms Caddick’s property and liquidators of Maliver.

Ms Caddick’s assets, including her $6 million Dover Heights house, would be liquidated in an effort to repay 72 clients who claim they owe more than $23 million.

A forensic examination of Ms Caddick’s financial affairs revealed that she had prepared fraudulent documents on CommSec letterhead with fictitious account numbers to demonstrate investors the return on her investments.

Some clients received payments, which were thought to be made with credit poured into Maliver by other investors.

The Australian Securities and Investments Commission (ASIC) got an anonymous report concerning Ms Caddick’s behavior after a genuine financial services provider realized she was using their license number without authorization.

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