ENCORE: Melissa Caddick: Trouble Afoot
3/16/202642 min
We’ll be back soon with brand new episodes – but for now, revisit the story of an Australian financial planner who swindled those closest to her….and then disappeared without a trace.
Melissa Caddick has always dreamed of doing big things. When she becomes a high-powered financial planner, she’s finally able to buy a huge house, take extravagant vacations, and live the life of an Australian jet-setter. But all that cash isn’t just coming from her paycheck. When her friends and family find out her secret source of income, they feel hurt and betrayed. But by that po...
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First 90 secondsSarah Hagi· Host0:00
Audible subscribers can listen to all our episodes of Scamfluencers ad-free right now. Join Audible today by downloading the Audible app. While we're working on new episodes of Scamfluencers, we wanted to revisit an old favorite, so today we're heading to Oz. In Sydney's eastern suburbs, one woman was enjoying penthouse views, toting designer handbags, and staging one of Australia's most mystifying financial scandals. Sachi, do you remember Melissa Caddick?
Sachi Cole· Host0:29
Oh, yeah. She was that financial advisor, and she, like, allegedly stole millions of dollars from her friends and her family, and then she just disappeared the morning after the cops raided her house, right?
Sarah Hagi· Host0:39
Yes, and for months, no one knew where she had gone, and to this day, the only thing that's been found is her foot, which was washed up on a remote beach.
Sachi Cole· Host0:49
Right. I can't believe I didn't think of the foot first, but I'm glad you brought up the foot. Yeah.
Sarah Hagi· Host0:54
Yes, and although the rest of Melissa's remains haven't been found, there is an update to her story. A class action suit brought on behalf of 32 victims recently reached a $3.5 million settlement. Receivers have also been selling off Melissa's estate, like her luxury penthouse, with the proceeds going toward repayments. The lawyer called it a fair and reasonable result and said resolving it in less than 18 months was a win. With this payment, investors are expected to recover about 50% of the money they invested.
Sachi Cole· Host1:25
That doesn't seem like enough, honestly.
Sarah Hagi· Host1:28
No, but a lot