Melissa Caddick case: Christian Dior ordered to hand over cash on behalf of the scammer

Luxury fashion brand Christian Dior has been ordered to release funds it holds on behalf of notorious scammer Melissa Caddick and 10 years of records revealing its spending habits.

The unlicensed financial adviser’s expensive lifestyle has come under intense scrutiny since she disappeared two years ago amid an investigation into her business.

The 49-year-old scammer disappeared from her luxury Sydney home more than two years ago, on November 12, 2020.

She mysteriously disappeared in the early hours of the morning after the Australian Safety and Investment Commission and the Australian Federal Police raided her $15 million home.

Melissa Caddick (pictured) mysteriously disappeared more than two years ago

Melissa Caddick (pictured) mysteriously disappeared more than two years ago

Melissa Caddick (pictured) mysteriously disappeared more than two years ago

The former financial adviser didn’t have her phone, wallet or keys with her when she disappeared, never to be seen or heard from again.

The 49-year-old was pronounced dead four months after she disappeared in February 2021 when a decomposing foot was found on a beach on the NSW south coast, hundreds of miles from Sydney. DNA extracted from the grisly find matched Ms Caddick’s.

She is accused of defrauding around $23 million from more than 70 clients while acting as their financial adviser.

Company watchdog ASIC claims the scammer funneled funds from her clients’ accounts to her own bank accounts to fund her lavish lifestyle.

Since her disappearance, court-appointed receivers Jones Partners have tried to uncover her widespread fraud.

Bankruptcy trustees are trying to recover the tens of millions of dollars Ms Caddick embezzled between 2012 and 2019.

Many of Melissa Caddick's belongings - including this

Many of Melissa Caddick's belongings - including this

Many of Melissa Caddick’s belongings – including this “Stella” necklace (as worn by Caddick in the picture) – have been auctioned to repay her customers.

Expensive pieces of jewelery belonging to Mrs Caddick were auctioned.

Expensive pieces of jewelery belonging to Mrs Caddick were auctioned.

Expensive pieces of jewelery belonging to Mrs Caddick were auctioned.

Attorneys representing the receivers, Christian Dior, Ms Caddick’s husband Anthony Koletti and her parents appeared in federal court on Monday.

The court was told that Jones Partners asked Christian Dior to release 10 years of records on the missing scammer, dating back to her first investment in 2011.

Jones Partners’ attorney, Nicola Bailey, told the court the extensive list of bills, receipts and bank statements was necessary to summarize “as complete a history as possible of all investor funds.”

However, Ben Katecar SC argued his client Christian Dior Australia was being forced to disclose privileged information “for the purpose of litigation with someone else”.

“Christian Dior Australia’s position is that it is not a party to this litigation, it is an outsider,” he said.

“The information contained in these documents is protected by copyright. Christian Dior’s business is based on confidentiality.”

Melissa Caddick was featured on the cover of Independent Financial Adviser magazine in 2003.

Melissa Caddick was featured on the cover of Independent Financial Adviser magazine in 2003.

Melissa Caddick was featured on the cover of Independent Financial Adviser magazine in 2003.

The luxury designer became embroiled in the court case when he revealed last month that he holds money and documents on Ms Caddick’s behalf.

Judge Brigitte Markovic said the release of the scammer’s documents would not expose Christian Dior’s “competitive way of doing business”.

“This is information pertaining to one customer only and I do not believe it is a secret that Ms. Caddick was a customer of Christian Dior,” she said.

“I can’t imagine there’s much you can do with (the bills).”

She told the court that the bankruptcy trustees could release the amount of money the luxury fashion house received from the scammer.

“It’s not your client’s money,” Judge Markovic said.

“I understand you’re holding it on behalf of a customer, and … it’s no more classified than the amount her jewelry may have been sold for.”

Melissa Caddick and Anthony Koletti were fixtures on the Sydney social scene.

Melissa Caddick and Anthony Koletti were fixtures on the Sydney social scene.

Melissa Caddick and Anthony Koletti were fixtures on the Sydney social scene.

If Jones Partners wanted to give creditors more detailed details, Judge Markovic asked them to give Christian Dior three days’ notice.

“Recipients need to exercise a degree of caution,” she warned.

Jones Partners is granted access to the 10-year records, despite telling the court that documents from 2021 would be excluded from the cache.

The judge ordered Christian Dior to turn over the records and any funds held in Ms Caddick’s name within two weeks.

According to the court documents, the records that were handed over included details of any funds or goods being held on the scammer’s behalf, such as: B. Deposits or goods held pending payment.

The luxury designer is also instructed to share financial documents issued to Ms Caddick, including tax bills, records of payments, bank statements and receipts.

The court heard Mr Koletti is fighting to keep part of his wife's fortune. Image: 7 messages

The court heard Mr Koletti is fighting to keep part of his wife's fortune. Image: 7 messages

The court heard Mr Koletti is fighting to keep part of his wife’s fortune. Image: 7 messages

The court heard that discussions about the fraudster’s disputed assets could not be adequately addressed until the inquest into her death was completed.

Judge Markovic conceded that the results should be handed over in April next year.

The dispute over the scammer’s fortune will return to court on April 19 next year.

https://www.soundhealthandlastingwealth.com/uncategorized/melissa-caddick-case-christian-dior-ordered-to-hand-over-cash-held-in-fraudsters-name/ Melissa Caddick case: Christian Dior ordered to hand over cash on behalf of the scammer

Brian Ashcraft

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