1 00:00:02,720 --> 00:00:05,000 Speaker 1: My name is Lily Maddon and I'm a proud Arunda 2 00:00:05,240 --> 00:00:10,040 Speaker 1: Bunjelung Calcuttin woman from Gadighl country. The Daily oz acknowledges 3 00:00:10,119 --> 00:00:12,320 Speaker 1: that this podcast is recorded on the lands of the 4 00:00:12,320 --> 00:00:15,880 Speaker 1: Gadighl people and pays respect to all Aboriginal and Torres 5 00:00:15,880 --> 00:00:18,799 Speaker 1: Strait Island and nations. We pay our respects to the 6 00:00:18,800 --> 00:00:21,599 Speaker 1: first peoples of these countries, both past and present. 7 00:00:31,840 --> 00:00:34,919 Speaker 2: Good morning and welcome to the Daily Ods. It is Tuesday, 8 00:00:34,960 --> 00:00:36,520 Speaker 2: the thirteenth of September. 9 00:00:36,680 --> 00:00:38,320 Speaker 3: I am Billy, I'm Zara. 10 00:00:38,360 --> 00:00:41,760 Speaker 2: An inquest into the death of alleged fraudstar Melissa Haddick 11 00:00:41,880 --> 00:00:45,640 Speaker 2: began yesterday. The police announced her dead when her foot 12 00:00:45,840 --> 00:00:48,680 Speaker 2: washed up on the beaches of New South Wales's south coast, 13 00:00:48,880 --> 00:00:52,160 Speaker 2: but there's still a lot of uncertainty around her suspected death. 14 00:00:52,479 --> 00:00:54,360 Speaker 2: We'll all tell you what you need to know about 15 00:00:54,360 --> 00:00:56,840 Speaker 2: the CDEK case so far and what we've heard from 16 00:00:56,920 --> 00:01:00,560 Speaker 2: day one of the inquest. But first, Zara, what's making 17 00:01:00,640 --> 00:01:01,520 Speaker 2: headlines this morning? 18 00:01:05,560 --> 00:01:09,000 Speaker 3: PM Anthony Alberanesi has said that Federal Parliament will sit 19 00:01:09,040 --> 00:01:11,880 Speaker 3: from September twenty three to twenty eighth to make up 20 00:01:11,920 --> 00:01:14,880 Speaker 3: for this week's suspension that was, of course caused by 21 00:01:14,959 --> 00:01:17,720 Speaker 3: the death of the Queen. Albanesi is set to miss 22 00:01:17,760 --> 00:01:20,080 Speaker 3: at least two days of this sitting week as he'll 23 00:01:20,120 --> 00:01:23,600 Speaker 3: be traveling to Japan for the memorial service of Shinzo Abe. 24 00:01:26,240 --> 00:01:29,720 Speaker 2: Ukraine's defense minister has thanked Australia for sending a Bushmaster 25 00:01:29,880 --> 00:01:33,840 Speaker 2: military vehicle to assist in their war efforts against Russia. 26 00:01:33,880 --> 00:01:37,279 Speaker 2: In a Twitter post, Alexey Resnikov said that the bush 27 00:01:37,319 --> 00:01:40,080 Speaker 2: Master would help to protect freedom and liberate Ukraine. 28 00:01:42,720 --> 00:01:46,800 Speaker 3: New Zealand PM Jasindar Aardn has announced a relaxation of 29 00:01:46,920 --> 00:01:50,720 Speaker 3: much of the country's COVID nineteen regulations. Mask wearing in 30 00:01:50,720 --> 00:01:53,920 Speaker 3: public places and vaccine mandates will be scrapped in two 31 00:01:54,000 --> 00:01:57,760 Speaker 3: weeks time, but a seven day mandatory isolation period will 32 00:01:57,800 --> 00:02:02,560 Speaker 3: still remain. Ardn called the announcement a milestone in our response. 33 00:02:04,480 --> 00:02:07,000 Speaker 2: And today's good news we love U sworts good news. 34 00:02:07,040 --> 00:02:10,200 Speaker 2: Australia's women's team have won the Rugby seven's World Cup 35 00:02:10,440 --> 00:02:12,960 Speaker 2: following a twenty four to twenty two victory over New 36 00:02:13,080 --> 00:02:16,280 Speaker 2: Zealand in the final. The Australians held a fourteen point 37 00:02:16,360 --> 00:02:19,200 Speaker 2: lead with three minutes left and were able to withstand 38 00:02:19,200 --> 00:02:21,880 Speaker 2: a final push from New Zealand to take the gold medal. 39 00:02:26,919 --> 00:02:29,880 Speaker 3: Okay, So in today's deep dive, we're gonna look at 40 00:02:29,880 --> 00:02:33,880 Speaker 3: the inquest that started yesterday into the death of Melissa Caddick. 41 00:02:34,120 --> 00:02:37,040 Speaker 3: But let's go back and refresh our memories because this 42 00:02:37,080 --> 00:02:39,639 Speaker 3: has been a long winded case. Billy. Should we start 43 00:02:39,680 --> 00:02:40,680 Speaker 3: with the disappearance. 44 00:02:40,880 --> 00:02:43,359 Speaker 2: Yes, it happened almost two years ago, which I can't 45 00:02:43,400 --> 00:02:46,320 Speaker 2: believe this was such a big story when it happened. 46 00:02:46,600 --> 00:02:48,760 Speaker 2: So on the morning of the twelfth of November in 47 00:02:48,800 --> 00:02:52,280 Speaker 2: twenty twenty, Melissa Caddick went missing from her home in 48 00:02:52,360 --> 00:02:55,440 Speaker 2: Sydney's Eastern Suburbs. She was living in Dover Heights at 49 00:02:55,440 --> 00:02:58,680 Speaker 2: the time with her husband and her teenage son. Her 50 00:02:58,720 --> 00:03:02,400 Speaker 2: disappearance was shroud in mystery because she left the house 51 00:03:02,440 --> 00:03:05,040 Speaker 2: with none of her things and there's never been any 52 00:03:05,080 --> 00:03:09,400 Speaker 2: confirmed sidings. There was no CCTV footage, there was literally nothing. 53 00:03:09,800 --> 00:03:12,120 Speaker 2: Basically the last thing anyone heard from her was her 54 00:03:12,120 --> 00:03:15,639 Speaker 2: teenage son, who heard the door slam as she was leaving. 55 00:03:16,120 --> 00:03:19,559 Speaker 2: It has since been revealed that the day before she disappeared, 56 00:03:19,880 --> 00:03:24,240 Speaker 2: the Australian Federal Police raided her house and this came 57 00:03:24,280 --> 00:03:28,560 Speaker 2: after ACIK, which is the Australian financial regulator, put together 58 00:03:28,720 --> 00:03:32,519 Speaker 2: evidence to suggest that Kadok had operated a ponzi scheme 59 00:03:32,800 --> 00:03:37,000 Speaker 2: from twenty twelve to twenty twenty, which allegedly collected millions 60 00:03:37,040 --> 00:03:39,160 Speaker 2: of dollars from over sixty people. 61 00:03:39,600 --> 00:03:42,120 Speaker 3: Okay, there's a lot to unpack there. Can we first 62 00:03:42,160 --> 00:03:44,160 Speaker 3: just define what a ponzi scheme is. It's one of 63 00:03:44,200 --> 00:03:46,200 Speaker 3: those things that we all just not at but perhaps 64 00:03:46,240 --> 00:03:47,360 Speaker 3: can't actually define. 65 00:03:47,440 --> 00:03:50,680 Speaker 2: Yep, definitely. So it's a tyephle fraud where you use 66 00:03:51,080 --> 00:03:54,800 Speaker 2: money from one investor to pay off another. And ACIK 67 00:03:54,880 --> 00:03:58,200 Speaker 2: alleges that Kadok was operating a ponzi scheme through her 68 00:03:58,360 --> 00:04:01,960 Speaker 2: investment company. But despite the fact that she had this 69 00:04:02,120 --> 00:04:05,680 Speaker 2: investment company, ACIK found that she didn't hold a financial 70 00:04:05,720 --> 00:04:09,440 Speaker 2: services license, which is mandatory if you want to operate 71 00:04:09,520 --> 00:04:12,600 Speaker 2: an investment business. And because of all of this evidence, 72 00:04:12,680 --> 00:04:16,280 Speaker 2: Assek froze CADECS bank accounts and property assets. And then 73 00:04:16,320 --> 00:04:18,520 Speaker 2: it was only a couple of days after that happened 74 00:04:18,560 --> 00:04:19,800 Speaker 2: that Kadik went missing. 75 00:04:20,279 --> 00:04:23,080 Speaker 3: Okay, so talk me through who was actually caught up 76 00:04:23,120 --> 00:04:24,240 Speaker 3: in this ponzi scheme. 77 00:04:25,080 --> 00:04:27,240 Speaker 2: I think this is one of the things that has 78 00:04:27,320 --> 00:04:30,440 Speaker 2: really caught people's attention because it is so sad. So 79 00:04:30,480 --> 00:04:33,240 Speaker 2: some of Kadok's clients were people really close to her, 80 00:04:33,279 --> 00:04:36,279 Speaker 2: her friends, her family, including her parents and her brother 81 00:04:36,320 --> 00:04:40,279 Speaker 2: as well, and also associates who invested millions of dollars 82 00:04:40,320 --> 00:04:43,400 Speaker 2: into this scheme, which obviously they did not know what 83 00:04:43,560 --> 00:04:47,880 Speaker 2: was actually going on. Accounts vary on exactly how much 84 00:04:47,960 --> 00:04:51,479 Speaker 2: was invested and how much of that was allegedly misused 85 00:04:51,520 --> 00:04:55,159 Speaker 2: by Kadok, but it could be up to thirty million dollars. 86 00:04:55,520 --> 00:04:58,520 Speaker 2: And it's alleged that she used the money that she 87 00:04:58,720 --> 00:05:00,960 Speaker 2: got from these people who thought that they were investing 88 00:05:01,000 --> 00:05:05,359 Speaker 2: their money with her to buy designer clothes, cars, a house, 89 00:05:05,760 --> 00:05:08,039 Speaker 2: and also luxury holidays. 90 00:05:07,760 --> 00:05:11,039 Speaker 3: And all of this sounds like alleged fraudulent activity. I 91 00:05:11,080 --> 00:05:14,160 Speaker 3: remember we reported on a fraud case that was investigating 92 00:05:14,279 --> 00:05:17,360 Speaker 3: Cadoch last year. What did that separate case find. 93 00:05:17,680 --> 00:05:20,159 Speaker 2: Well, that case is still ongoing, so we don't really 94 00:05:20,160 --> 00:05:23,440 Speaker 2: have conclusive answers yet. But in June of last year, 95 00:05:23,480 --> 00:05:26,160 Speaker 2: we started to get more of a full picture of 96 00:05:26,240 --> 00:05:29,520 Speaker 2: exactly what was going on and the full extent of 97 00:05:29,560 --> 00:05:33,719 Speaker 2: Kadock's alleged fraud. In those court proceedings. The accountants in 98 00:05:33,800 --> 00:05:38,520 Speaker 2: charge of auditing cdoc's accounts reviewed thousands of her transactions 99 00:05:38,560 --> 00:05:42,640 Speaker 2: and they didn't find any legitimate investments made by Kadok 100 00:05:42,720 --> 00:05:44,159 Speaker 2: on behalf of a client. 101 00:05:44,440 --> 00:05:48,159 Speaker 3: That is absolutely incredible when you think about the sheer 102 00:05:48,279 --> 00:05:52,200 Speaker 3: volume of money that was invested with Kadok. How was 103 00:05:52,440 --> 00:05:53,640 Speaker 3: this actually happening? 104 00:05:53,839 --> 00:05:55,760 Speaker 2: Yeah, it is really crazy when you think about it, 105 00:05:55,760 --> 00:05:59,640 Speaker 2: because she had an investment company but apparently hadn't actually 106 00:05:59,640 --> 00:06:02,560 Speaker 2: invest did any of the money. So it's alleged that 107 00:06:02,640 --> 00:06:07,160 Speaker 2: Kadik was actually just showing her investors' fake documents claiming 108 00:06:07,200 --> 00:06:10,120 Speaker 2: to have made their money, which led them to believe 109 00:06:10,120 --> 00:06:12,400 Speaker 2: that their investments were in safe hands and that the 110 00:06:12,440 --> 00:06:15,560 Speaker 2: investments were growing when they actually weren't. And one of 111 00:06:15,600 --> 00:06:18,080 Speaker 2: those accountants said that, and this is a quote, in 112 00:06:18,120 --> 00:06:22,000 Speaker 2: nearly all cases, the transactions referred to in the documents 113 00:06:22,080 --> 00:06:23,120 Speaker 2: were fictitious. 114 00:06:23,760 --> 00:06:26,560 Speaker 3: Okay, So you've summed up exactly what we know so 115 00:06:26,720 --> 00:06:31,039 Speaker 3: far about Melissa Kadock's investments and what it's alleged she's 116 00:06:31,080 --> 00:06:34,080 Speaker 3: done with these investments. What do we know about what's 117 00:06:34,080 --> 00:06:35,000 Speaker 3: happened since. 118 00:06:35,200 --> 00:06:38,000 Speaker 2: Yeah, so I think that you know when someone literally 119 00:06:38,080 --> 00:06:41,679 Speaker 2: disappears There are obviously a lot of theories about what happened, 120 00:06:42,080 --> 00:06:44,840 Speaker 2: but police have said that they believe she is dead 121 00:06:44,960 --> 00:06:48,080 Speaker 2: and that happened when they made an announcement after the 122 00:06:48,120 --> 00:06:51,400 Speaker 2: partial remains of her foot was found washed up at 123 00:06:51,440 --> 00:06:54,240 Speaker 2: a beach on New South Wales South coast in February 124 00:06:54,240 --> 00:06:57,240 Speaker 2: of twenty twenty one. Following that, police said the manner, 125 00:06:57,360 --> 00:07:00,039 Speaker 2: time and cause of Kadock's death is a matter for 126 00:07:00,080 --> 00:07:02,159 Speaker 2: the coroner. So they said that we know that she 127 00:07:02,440 --> 00:07:05,279 Speaker 2: is dead, but exactly how she became dead is not 128 00:07:05,360 --> 00:07:08,800 Speaker 2: something that we're investigating. That's something for the coroner. 129 00:07:08,720 --> 00:07:11,680 Speaker 3: Which brings us exactly to now. And while we're talking 130 00:07:11,680 --> 00:07:15,400 Speaker 3: about this on the podcast, the coronial inquest into Kadok's 131 00:07:15,400 --> 00:07:19,320 Speaker 3: death actually began yesterday, almost two years after she disappeared. 132 00:07:19,520 --> 00:07:22,120 Speaker 2: Yeah, the inquest will run for two weeks in the 133 00:07:22,160 --> 00:07:25,160 Speaker 2: New South Wales Coroner's Court and that is separate to 134 00:07:25,240 --> 00:07:28,640 Speaker 2: the ongoing case that we mentioned before. And the role 135 00:07:28,680 --> 00:07:31,400 Speaker 2: of this inquest is to establish the facts and to 136 00:07:31,520 --> 00:07:36,040 Speaker 2: understand the details that surround Kadock's death. This inquest can't 137 00:07:36,080 --> 00:07:39,160 Speaker 2: find anyone guilty of committing a crime or lay blame 138 00:07:39,320 --> 00:07:43,600 Speaker 2: on certain people. It can make recommendations though to governments 139 00:07:43,640 --> 00:07:45,680 Speaker 2: to improve public health and safety. 140 00:07:45,960 --> 00:07:48,360 Speaker 3: What are we expecting from this inquest? You've said that 141 00:07:48,400 --> 00:07:50,840 Speaker 3: there's not going to be any blame late, what do 142 00:07:50,880 --> 00:07:52,040 Speaker 3: we think will come from it? 143 00:07:52,160 --> 00:07:55,560 Speaker 2: Well? During an opening address the council assisting the coroner, 144 00:07:55,640 --> 00:07:58,560 Speaker 2: Jason Downing said that the date and place of cdex 145 00:07:58,640 --> 00:08:02,960 Speaker 2: suspected death are the subject of quote significant uncertainty. He 146 00:08:03,080 --> 00:08:06,320 Speaker 2: flagged the possibility that the inquest will result in an 147 00:08:06,360 --> 00:08:10,000 Speaker 2: open finding, and that essentially means that it's unlikely that 148 00:08:10,040 --> 00:08:12,920 Speaker 2: there will be conclusive findings from the inquest, but it 149 00:08:13,000 --> 00:08:16,520 Speaker 2: should provide some more answers than what we have right now. 150 00:08:16,720 --> 00:08:19,680 Speaker 3: We're only one day in so far. What have we 151 00:08:19,760 --> 00:08:21,960 Speaker 3: heard during this coronial inquest? 152 00:08:22,120 --> 00:08:24,320 Speaker 2: Well, I think firstly it's important to point out that 153 00:08:24,360 --> 00:08:26,840 Speaker 2: we weren't present at this inquest, but we do have 154 00:08:27,280 --> 00:08:30,120 Speaker 2: some detail from those who were there and were reporting 155 00:08:30,160 --> 00:08:34,080 Speaker 2: on it, including Sydney Morning Herald journalist Kate McClymont, whose 156 00:08:34,120 --> 00:08:37,600 Speaker 2: investigation into the CADECH case has really been leading the 157 00:08:37,679 --> 00:08:41,000 Speaker 2: coverage over the past two years. There have been some 158 00:08:41,160 --> 00:08:44,040 Speaker 2: key revelation so far. We heard in court yesterday that 159 00:08:44,160 --> 00:08:47,719 Speaker 2: by August twenty twenty so three months before her disappearance, 160 00:08:48,160 --> 00:08:51,920 Speaker 2: Kadik appeared to be under financial pressure. While on a 161 00:08:51,960 --> 00:08:55,640 Speaker 2: walk around the cliffs of Dover Heights, she told a friend, quote, 162 00:08:55,800 --> 00:08:58,400 Speaker 2: if I'm going to end it, it's going to be here. 163 00:08:59,000 --> 00:09:01,880 Speaker 2: We also discovered that she had gone missing at another 164 00:09:01,960 --> 00:09:04,480 Speaker 2: difficult period in her life, and that was earlier in 165 00:09:04,480 --> 00:09:07,360 Speaker 2: twenty twelve. At that time, she had given her friend 166 00:09:07,440 --> 00:09:09,920 Speaker 2: a code to pass on to her brother in the 167 00:09:09,960 --> 00:09:14,280 Speaker 2: case of her disappearance. The inquest also found that while 168 00:09:14,360 --> 00:09:17,800 Speaker 2: DNA analysis had confirmed the foot found on the South 169 00:09:17,840 --> 00:09:21,200 Speaker 2: Coast was CDIs it was not possible to determine how 170 00:09:21,240 --> 00:09:24,920 Speaker 2: it had been separated, and that came after conspiracy theories 171 00:09:24,960 --> 00:09:28,040 Speaker 2: were circulating that perhaps she had cut her own foot off. 172 00:09:28,320 --> 00:09:30,880 Speaker 2: But towards the end of the day, Kate McClymont tweeted 173 00:09:30,920 --> 00:09:34,560 Speaker 2: that the inquest heard that it's unlikely that happened quote 174 00:09:34,640 --> 00:09:37,280 Speaker 2: with or without the assistance of a non medically trained 175 00:09:37,280 --> 00:09:39,840 Speaker 2: individual in order to stage her disappearance. 176 00:09:47,080 --> 00:09:49,160 Speaker 3: If that chat has raised anything for you, you can 177 00:09:49,200 --> 00:09:54,640 Speaker 3: always call lifeline. On thirteen eleven fourteen, thank you for 178 00:09:54,720 --> 00:09:57,840 Speaker 3: joining The Daily Oz. If you learned something from today's episode, 179 00:09:58,040 --> 00:10:01,040 Speaker 3: don't forget to subscribe, so there's a The TDA episode 180 00:10:01,080 --> 00:10:04,520 Speaker 3: waiting for you every weekday morning. We'll be back again tomorrow, 181 00:10:04,600 --> 00:10:11,400 Speaker 3: but until then, have a fabulous Tuesday.