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AceBreakingNews – UPDATE – Investors caught in Melissa Caddick’s alleged Ponzi scheme have received their first payout, three years after the scandal came to light.

An initial distribution of $3 million has been made by the accounting firm overseeing the sale of the alleged fraudster’s assets.

The money comes from the sale of her Dover Heights property, which sold for $9.8 million in January, and her share portfolios. 

Receivers said they had taken possession of the penthouse apartment in Edgecliff, also owned by Caddick.

The 49-year-old hasn’t been seen since November 2020, shortly after her Dover Heights home, in Sydney’s east, was raided by the corporate watchdog, the Australian Securities and Investments Commission (ASIC).

An inquest into Caddick’s suspected death heard investors lost between $20 and $30 million.

The NSW Coroner concluded in May that Caddick had died.

Bruce Gleeson, principal at Jones Partners, said the payout was a good result for the alleged victims.

“In many Ponzi schemes, it is not unusual for investors to receive no return, so we are pleased to be able to make this distribution and anticipate further significant distributions in the future,” Mr Gleeson said.

“The Edgecliff penthouse in the Eastpoint Tower is in a prime location, and the sale of it will importantly enable us to make further significant distributions to investors.”

He said the firm had appointed an agent to list the apartment for sale at the beginning of September.

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