Melissa Caddick’s parents are at war with the victims of the deceased conwoman’s long-running scam, as they fight over who deserves the biggest cut of her estate.
The two parties are locked in a bitter despite over Caddick’s penthouse apartment in Sydney’s affluent eastern suburbs, where Caddick’s parents Ted and Barb Grimley currently reside.
The Grimleys claim they deserve a larger share of the proceeds of the sale of the property, despite the penthouse being purchased by Caddick as part of her Ponzi scheme.
However, the victims of Caddick’s scam are adamant that the proceeds should be evenly divided by those who have suffered at the hands of the deceased conwoman.
The apartment was purchased by Caddick seven years ago, when Mr and Mrs Grimley gave their daughter $1 million for a share of the eastern suburbs residence.
Despite the hefty share sum, Melissa put the entire apartment in her own name and used her parents’ money on new jewellery.
The Grimleys have refused to vacate the property, telling the victims during a recent mediation that they would only move out if they were paid $950,000 – effectively getting most of their money back and leaving nearly 60 other investors divvying up the rest of the proceeds and getting back less than half of what they are owed.
One of the victims of Caddick’s scam, Sarah Steel, said she feels for the Grimleys and what they have been through, but they need to think of the other victims involved.
“I feel really terrible for what they’ve been through,” she said.
“But it feels to me that they aren’t feeling the same for the rest of us going through this same thing.”
“We’re facing a situation where other people are putting themselves forward as a priority to the other investors who were duped.”
Lawyers for the majority of Caddick’s victims are now considering suing the auditors that Caddick hired and who were tasked with casting a critical eye over her finances.
Given Caddick ran one of the longest frauds in Australian history, not one auditor over the years ever flagged a problem with her financial accounts.
Michael Chapman, the lawyer representing the majority of Caddick’s victims, is at a complete loss as to how the auditors couldn’t have noticed the fraudulent behaviour.
“We feel like they’ve dropped the ball,” he told 60 Minutes.
“We feel as though there is a good claim that could be brought forward against the auditors.”
Lawyers will be seeking $15 million from the auditors in a potential court case, and if they succeed, the victims of Caddick’s scamming would be close to getting back all of the money they lost.
“I don’t discount the pain and the suffering that these people have been through to this point,” Chapman said.
“It would be a silver lining.”
Image credits: 60 Minutes
This article first appeared on Over60.