Melissa Caddick’s parents to get $950,000 payout if they move out of the luxury apartment Australia’s most notorious fraudster bought them
- Barbara and Ted Grimley will be paid $950k to leave property
The parents of dead conwoman Melissa Caddick will be paid nearly $1m in a bid to settle a bitter fight with their daughter’s defrauded investors.
In the Federal Court on Monday, court-appointed receivers finalised their offer to pay Ted and Barbara Grimley $950,000 to vacate a disputed property in Sydney’s eastern suburbs.
The multimillion-dollar apartment in Edgecliff has become the flashpoint in the fight over the assets and debts left behind by one of the country’s most notorious fraudsters.
A coronial inquest last month that Melissa Caddick had died after vanishing from her Dover Heights home in November 2020, but could not determine the means by which she was killed
Caddick vanished in November 2020, a day after the Australian Securities and Investments Commission raided her Dover Heights home in connection with her alleged financial scam.
She is believed to have stolen at least $23m from more than 50 investors while fraudulently presenting herself as a financial adviser.
A coronial inquest found last month that the conwoman had died but it could not determine the date, cause, or location of her death.
Caddick left behind a substantial cache of assets, including designer jewellery, luxurious cars, and two multimillion dollar properties with views of the Sydney Harbour.
Most have been sold by the receivers to repay wronged investors, but Caddick’s parents fought in the Federal Court to retain the Edgecliff apartment after paying more than $1m toward its purchase.
Melissa Caddick’s parents Barbara and Ted Grimley had tried to retain their Edgecliff apartment (above)
On Monday, they agreed to waive their claim to the property in exchange for the hefty sum proposed by the receivers.
The funds from the sale of the apartment will then be distributed between Caddick’s defrauded investors according to a schedule devised by the receivers.
Lawyers for the group of investors and the Grimleys did not oppose the settlement when it was raised in court on May 31.
More to come.