Ponzi scheme victims of Melissa Caddick may finally get some justice after a judge ruled her multi-million dollar Sydney home and investment firm should be handed over to receivers.
The Federal Court on Monday declared the mother-of-one, who vanished on November 12 last year, had provided unlicensed financial advice between 2012 and 2020 under her company Maliver.
The Australian Securities and Investments Commission have been trying to recover some of the live-savings her 72 clients poured in the scam, which funded Ms Caddick’s lavish lifestyle of luxury clothes, real estate and overseas holidays.
Investors were duped out of about $30million before the financial watchdog cottoned onto the scam and raided the 49-year-old’s home last year.
Justice Brigitte Markovic ruled Maliver should be wound down with provisional liquidators to now be made permanent as they divvy what’s left of the company for those who are owed money.