The provisional liquidators sifting via missing businesswoman Melissa Caddick’s affairs imagine she used Excel spreadsheets to create faux statements to dupe her traders.
Ms Caddick disappeared in November 2020, shortly after her dwelling was raided by the Australian Federal Police as a part of an Australian Securities and Investments Commission (ASIC) investigation into her and her enterprise, Maliver Pty Ltd.
Bruce Gleeson and Daniel Soire, of Jones Partners, have been appointed as provisional liquidators of Maliver and as receivers of her property in December.
Mr Gleeson described the investigation as “unusual” in a media assertion on Wednesday, saying he and Mr Soire had examined 1000’s of paperwork and interviewed Ms Caddick’s household, former colleagues and traders.
He stated that they had uncovered widespread cases of Ms Caddick offering faux statements to traders, lots of them on a Commonwealth Bank or CommSec letterhead.
“In nearly all cases the transactions referred to in the documents and the purported shareholdings deemed to be held by the investors were fictitious,” he stated.
He stated CBA and CommSec had confirmed the account and/or reference numbers on the statements both didn’t exist, or didn’t relate to the related investor.
“Our view therefore is that the documents have been falsified, so as to mislead investors and give Ms Caddick and the company financial benefits,” he stated.
Mr Gleeson stated that they had not discovered a single occasion of Ms Caddick offering a real CommSec portfolio holding assertion to traders.
Mr Gleeson stated it appeared Ms Caddick insisted on utilizing Excel spreadsheets — versus accounting software program — which have been the “tool of trade” used to generate the faux statements.
“The process enabled Ms Caddick to portray misleading financial positions of not just the company, but also the financial affairs of the investors she was acting for,” he stated.
“We identified multiple instances where she was recording in Excel spreadsheets investor funds as company revenue when clearly this was not the correct accounting treatment.”
Mr Gleeson additionally stated Ms Caddick had been working with out an Australian monetary providers licence, that investor funds had been “co-mingled” in firm and private accounts, and that share transactions had not occurred within the related investor’s title.
“There are hundreds of false bank statements, share contracts and share trading statements,” he stated.
Fictional paperwork additionally surfaced of their inspection of Ms Caddick’s self-managed tremendous fund, he stated.
Mr Gleeson stated it appeared Ms Caddick handled Maliver and her personal affairs as one and the identical, regularly transferring cash between firm and private financial institution accounts.
Mr Gleeson stated there have been “many complex legal issues” concerned in figuring out who owned varied property and methods to maximise the return to traders, who had been hit financially and emotionally.
“This is an unusual matter and we are continuing to liaise with ASIC so that the best strategy can be implemented to enable assets to achieve both aims,” he stated.
He urged anybody who knew of Ms Caddick’s property or might have misplaced cash to her to return ahead.
Ms Caddick is believed to have left her $7 million Dover Heights dwelling in Sydney’s east about 5.30am on November 12 to go on her morning run.
She was as a consequence of seem in court docket later that day however didn’t take her cellphone and has not been seen since.