Melissa Caddick’s parents win $950,000 payout if they move out of Edgecliff’s house
Melissa Caddick’s parents get $950,000 if they move out of the luxury apartment Australia’s most notorious con artist bought for them
- Barbara and Ted Grimley are getting $950,000 to vacate their property
The parents of the late con artist Melissa Caddick are being paid nearly $1 million to settle a bitter feud with their daughter’s conned investors.
In Federal Court on Monday, court-appointed trustees finalized their offer to pay Ted and Barbara Grimley $950,000 to vacate a disputed property in Sydney’s eastern suburbs.
The multi-million dollar apartment in Edgecliff has become the focal point in the battle over the assets and debts left behind by one of the country’s most notorious fraudsters.
A corona investigation last month that Melissa Caddick had died after disappearing from her home in Dover Heights in November 2020, but could not determine how she was killed
Caddick disappeared in November 2020, a day after the Australian Securities and Investments Commission raided her home in Dover Heights in connection with her alleged financial scam.
She allegedly stole at least $23 million from more than 50 investors while fraudulently posing as a financial advisor.
A corona investigation last month found that the conwoman had died, but it could not determine the date, cause or location of her death.
Caddick left behind a significant amount of possessions, including designer jewellery, luxury cars and two multimillion-dollar properties overlooking Sydney Harbour.
Most have been sold by the trustees to repay unjust investors, but Caddick’s parents fought in federal court to keep the Edgecliff apartment after paying more than $1 million to purchase it.
Barbara and Ted Grimley, Melissa Caddick’s parents, had tried to keep their apartment in Edgecliff (above)
On Monday, they agreed to relinquish their claim to the property in exchange for the hefty sum proposed by the trustees.
The money from the sale of the apartment will then be distributed among Caddick’s defrauded investors according to a schedule set by the trustees.
Lawyers for the group of investors and the Grimleys did not oppose the settlement when it was taken to court on May 31.
More to come.