Hear the story of Melissa Caddick, a Sydney con investor who swindled over 60 clients out of $25 million in life savings from 2009 to 2020.

Details of this intriguing story started unfolding when police reported that an Australian mother and business woman disappeared without a trace on the 12th of November, 2020. It was just one day after the Australian Securities and Investments Commission (ASIC) and police agents raided her home. Melissa ran a boutique financial advisory firm called Maliver Pty Limited.

Allegations facing the Sydney con investor

The authorities suspect Melissa of signing on clients to manage their investments but instead transferring the cash to her personal bank accounts to fund her lavish lifestyle. Additionally, they suspect that she falsified documents that made it appear to her clients like she had built them lucrative portfolios. The ASIC alleged that the Sydney con investor had stolen over tens of millions of dollars in invested funds from at least 60 clients, including many of her family and friends. Consequently, the corporate watchdog banned her from leaving the country, selling assets, or sending money off-shore.

It's unclear exactly how much money her clients gave her. But federal court documents show that between January 2018 and September 2020, more than $20 million was withdrawn from Melissa's direct investment account.

The ASIC outlined a range of allegations, including the misuse of investors' money to make mortgage repayments, buy jewelry, and other luxury goods. Victims’ testimonies and local media reports alleged she had been living a lavish lifestyle, including taking overseas holidays and buying expensive clothes and jewelry.