Caddick mysteriously disappeared the day after ASIC executed a search warrant at her luxury Dover Heights home on November 11.
Her decomposed foot was found in the water near Tathra on February 21, police revealed on Friday.
Court-appointed liquidators allege she “meticulously and systematically” deceived investors who handed millions of dollars to her over seven years, then used the money to fund her extravagant lifestyle.
The liquidators said on Wednesday they were unable to find a single example of a legitimate investment in the name of the investor.
Instead, Caddick mixed “many, many millions” of investors’ funds in company bank accounts and her own personal accounts.
The 49-year-old then used the money to fund an “extravagant lifestyle” and property purchases, according to provisional liquidator Bruce Gleeson.
She provided investors with hundreds of documents on Commonwealth Bank and CommSec letterheads that suggested their investments were doing well.
But really the account numbers on the documents either did not exist or were not associated with the actual investor.
Investors were deceived from the very start, as her company Maliver Pty Ltd did not hold a financial services licence as claimed.
Caddick’s husband and son from Friday won’t be paid living and legal expenses out of her assets.
The matter is back in the Federal Court in April, when Gleeson and his partner will ask to be appointed as ongoing liquidators so they can start realising Maliver’s “limited” assets.
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