Missing finance adviser Melissa Caddick’s husband left high and dry

Late last year Ms Caddick’s older brother Adam Grimley, who was granted $110,000 from his sister’s frozen bank accounts by the court to represent her, submitted that his brother-in-law Anthony Koletti and Mr Grimley’s teenage nephew required living expenses of $20,922 per month.

This did not include the $19,000 per month mortgage Ms Caddick has been paying on her Dover Heights home, as she had made payments up until March 2021.

Mr Koletti, an unemployed hairdresser who had a music production company called Paws Off, told the court he had $1.95 in his bank account. In December the court agreed that he and his stepson would receive living expenses of $1700 per week. But according to consent orders recently filed with the court, “no further payment or allowance shall be made for living expenses”.

Mr Grimley, who is understood to be a victim of his sister’s alleged fraudulent dealings​,​ did not oppose consent orders cutting off funds for legal representation for Ms Caddick.

The court heard that Ms Caddick had $5600 in her personal accounts.

On Monday, the court heard that both Mr Koletti and Mr Grimley, who are not accused of any wrongdoing, were examined by ASIC last week.

Mr Koletti, 38, who tuned in to the proceedings, heard that the liquidators of his wife’s company Maliver had produced a lengthy financial report and had identified more potential civil and criminal contraventions by Ms Caddick, 49.

The Federal Court has previously heard Ms Caddick was involved in “serious misconduct … in connection with the misappropriation of consumer funds”.

Financial records show that from January 1, 2018 until September 18, 2020 a total of $20.279 million was deposited into her accounts and she has since withdrawn all but $700,000 of that.

There was no good news for Ms Caddick’s alleged victims, who were told that there was a “significant shortfall” between the amounts investors are owed and the value of the assets of Ms Caddick.

There is a further complication in that most people invested via Ms Caddick’s company Maliver but the “limited asset pool”, which includes her Dover Heights home and her parents’ penthouse, luxury goods and jewellery, were held in Ms Caddick’s name.

Ms Caddick’s victims have requested that her assets be sold as soon as possible in order to recoup some of their substantial losses.

A two-day hearing has been set down for April 6 and 7.