Swindled 101. The Missing (Melissa Caddick)
Sep 22, 2023
Melissa Caddick, a Sydney-based financial advisor, disappears after a raid on her house. The podcast explores the lack of trust in the justice system and financial advisors, the investigation into Melissa's disappearance, her Ponzi scheme and financial fraud, and the ongoing recovery efforts of her victims.
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Sherwin's Scheme
- Brad Sherwin's Ponzi scheme cost investors $60 million, devastating the lives of 400 clients and creditors.
- Many victims, including retirees, were forced back to work or faced financial ruin.
SMSF Vulnerability
- The collapse of Sherwin Financial Planners highlighted the vulnerability of self-managed superannuation funds.
- Similar frauds continue to occur, underscoring the need for greater vigilance.
Melissa's Early Career
- Melissa Grimley's early career included forging signatures for financial gain, foreshadowing future schemes.
- Despite early setbacks, she advanced in the financial industry, eventually owning part of Wise Financial Services.