The battle between the parents of missing fraudster Melissa Caddick and her victims has escalated with legal action foreshadowed against receivers handling Caddick’s estate.
The battle between Barb and Ted Grimley, the parents of missing fraudster Melissa Caddick, and the victims their daughter defrauded has escalated with the Grimleys foreshadowing legal action against the court-appointed receivers handling Caddick’s estate.
The receivers have been engaged in a legal stoush with the Grimleys over the Edgecliff property purchased by Caddick using stolen funds for $2.55 million in 2016. However, it still has a sizeable mortgage which hasn’t been paid since her disappearance and is attracting default interest penalties. Newlinds wants the receivers to pick up the tab on the interest on the mortgage from January when the Dover Heights property sold for $9.8 million.Vanessa Whittaker, SC, representing the receivers, told the court that since that application was granted to pay down the Edgecliff mortgage, out-of-pocket investors in Caddick’s Ponzi scheme had banded together to have their competing interests heard.
Whittaker told the court that it had become “very apparent … that a very serious dispute exists” between the Grimleys and the other investors about whether or not the Edgecliff mortgage should be paid from the Dover Heights proceeds.
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