Melissa Cadek’s $15 million mansion will need minor repairs before liquidators hire a real estate agent to handle its sale – as they look to repay the fraud victims.
The girl’s husband, hairstylist, and DJ Anthony Colletti has been living in the house since her disappearance, and last week a federal court ordered the Dover Heights home to be vacated before May 18.
The Australian Securities and Investments Commission (ASIC) has confiscated all of its assets as a way to repay former clients who lost millions to the fraudster, with the liquidators’ lawyer confirming that the home sale will take up to six weeks.
“We need to go home, do minor repairs, shop, and hire an agent,” said attorney Stephen Guledge. The program will be approximately four to six weeks.
Melissa Cadek’s $15 million mansion will need minor repairs before liquidators hire a real estate agent to handle its sale
Kadek mysteriously disappeared the next day and was not seen or heard again until March of the following year when her severed foot was washed ashore on a south coast shore.
Ms. Cadek bought the house in the eastern suburbs of Sydney for $6.2 million in 2014, nearly tripling its value in eight years.
Colletti, who has been living in the stately mansion since his wife’s disappearance on November 12, 2020, was present in federal court on Monday as ASIC confirmed it was moving forward with its ‘property investigation’, the NCA news agency reported.
“Anthony Colletti will be free to file a two-day written motion in connection with any dispute relating to the removal of items of personal property from the Dover Heights property,” Judge Brigitte Markovic said in court last week.
The property will be sold by liquidators in an attempt to pay off a portion of the $23 million Kadek stole from investors in its Ponzi scheme – which largely includes close friends and family.
It is now being prepared for sale, with maintenance, repairs and removal of the couple’s belongings.
Ms Kadick bought the house in the eastern suburbs of Sydney for $6.2 million in 2014, nearly tripling its value in eight years.
Judge Markowitz issued an order allowing the SEC to seize the Dover Heights home, before hiring a real estate agent and making appraisals.
The order reads “Recipients will be justified in…to make maintenance and repairs which they deem fit to the property and to arrange for the design of the property.”
Kadek posed as a financial advisor and told her 74 victims that she was investing their savings in well-performing stocks — circumventing CommSec data to trick them into thinking they were amassing wealth.
Mr. Colletti has been living in the stately mansion since his wife disappeared on November 12, 2020
However, Caddick didn’t invest anything on behalf of her clients – instead, she used investor money to fund her lavish lifestyle, which included luxury vacations, jewelry, clothing, cars, and a fine art collection.
Her scheme collapsed when the Australian Securities and Investment Commission and the Australian Federal Police raided her home in November 2020.
She mysteriously disappeared the next day and was not seen or heard again until March of the following year when her severed foot washed up on a south coast shore – 400 kilometers from Dover Heights Palace.
Kadek is presumed dead, but there will be an official investigation in September.
Financial advisor Melissa Cadek poses for a photo with her husband, Anthony Colletti in Aspen, Colorado, during a ski trip.
Mr. Colletti has struggled to keep some of the assets his wife purchased with stolen money – claiming just two weeks ago that he contributed financially to the family between 2017 and 2020.
In mid-April, the one-time DJ filed a statement to the federal court claiming he was a housewife and was looking after his teenage son from Kadik — meaning he should get Kadik’s art collection, diamond jewelry, and her Gucci wedding dress.
He has also tried to get a share of the sale of the $15 million home, along with a $4 million three-bedroom unit in Edgecliff — which Cadek had bought for her elderly parents.
In February, Mr. Colletti told the federal court he saw “no purpose” in the recipients’ access to the Dover Heights home.
“I need all the money I can get,” he said.
Pictured: Anthony Colletti with the Audi R8 convertible sports car bought by Kadek
After claiming he was too busy to allow a court-appointed insolvency group onto the property, he said he was “trying to support a small child.”
It is understood that Kadik’s teenage son, whom she bore with her first husband, lives on the property with Mr. Colletti.
The court previously heard that Mr Colletti had $1.95 in his bank account when Kadek disappeared in November 2020 – the day after the Australian Federal Police raided the house.
Stephen Guledge, representing Bruce Gleeson and Daniel Soar of the insolvency firm Jones Partners, told the court that Mr. Colletti objected to the sale of the home, but did not provide any evidence to support his claim.
Colletti also objected to the sale of his Audi R8 convertible sports car, but again failed to give any evidence to liquidators that he contributed to the $390,000 purchase in 2016.
The car sold for $295,000 in February, while the black 2016 Mercedes-Benz CLA45 Cadillac sold for $66,250.