Over his career, liquidator Bruce Gleeson has dealt with all manner of shysters and scammers, pyramid and Ponzi schemes, but he has never dealt with anything quite like the extraordinary case of Melissa Caddick.
Even though a tip was made to ASIC in late 2019 suggesting she was falsely claiming she held a financial services licence, that tip was anonymous and did not suggest anyone had suffered a financial loss. In June the following year a more detailed second complaint sparked a covert investigation that would ultimately lead to Caddick’s unmasking.
Court documents show that by mid-morning Caddick had abandoned that strategy and was now looking at her client as a possible path to fresh victims. “Hi [name redacted], As I mentioned I would be happy to speak to [your brother] If you think 1 or 2 people that would be suited to our business I would appreciate the referral.”Although she was the subject of a major investigation at the time, Caddick still managed to secure one last unfortunate victim to replenish her coffers.
In Madoff’s case, his investors largely came from wealthy Jewish communities in Florida and New York. “We thought he was God. We trusted everything in his hands,” said Nobel Peace laureate Elie Wiesel, whose foundation lost $US15.2 million . The swindle is named after Charles Ponzi, a short, dapper conman who, in 1920, raked in an estimated $US15 million in eight months by persuading tens of thousands of Bostonians that he had unlocked the secret to easy wealth in the form of postal coupons.
Source: Entertainment Trends (entertainmenttrends.net)
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