Federal Court Approves $3.5 Million Settlement for Melissa Caddick's Victims

The settlement, achieved within 18 months, allows defrauded investors to recover 50% of their lost funds after years of legal and financial turmoil.

Melissa Caddick's victims have reached a $3.5 million settlement in a class action against auditors accused of negligence and deceptive conduct.
The Federal Court approved the settlement, with victims expected to recover an additional 11 cents on the dollar, bringing total recovery to 50% of their investments.
The class action alleged that auditors failed to identify fraudulent documents and verify the existence of assets in self-managed superannuation funds (SMSFs).
Caddick stole $23 million from 72 clients between 2012 and 2020, using her company Maliver to fund a lavish lifestyle instead of making promised investments.
The settlement marks a significant milestone in the resolution of the case, providing partial closure for victims nearly five years after Caddick's disappearance.