A woman ripped off millions by dead Sydney conwoman Melissa Caddick learned of her death moments before going on breakfast radio on Friday.

NSW Police revealed on Friday that Ms Caddick's remains were found at Bournda Beach, about 25km south east of Bega on the state's far south coast. Members of the public found her decomposed foot inside a running shoe and reported it to police.

Cheryl Kraft Reid was a long-time friend of Ms Caddick and entrusted her with "millions" of dollars in superannuation.

The conwoman ran a Ponzi scheme in which she transferred investors' money from her business into her personal accounts instead of investing the funds.

Assistant Commissioner Michael Willing addresses media outside the police centre on Friday to reveal police discovered the remains of Ms Caddick’s remains. Picture: John Grainger
Assistant Commissioner Michael Willing addresses media outside the police centre on Friday to reveal police discovered the remains of Ms Caddick’s remains. Picture: John Grainger

Ms Caddick used an estimated $25m from around 60 investors to buy real estate, including a penthouse in Edgecliff, a ski lodge in Aspen and to purchase lavish designer clothing and fund expensive overseas trips.

Ms Kraft Reid was emotional and almost speechless when speaking to Ben Fordham on 2GB.

"Thanks, Ben … gee, this is the first time I've heard what they've found," Ms Kraft Reid said.

"They've discovered Melissa Caddick's body on the south coast of NSW," Mr Fordham responded.

Ms Kraft Reid took a long pause and exhaled, floored by the news.

"Wow, that's a sad tragic outcome for her son, but it's also a sad tragic outcome for us because we don't get closure," Ms Kraft Reid said.

Cheryl Kraft Reid and wife Faye Reid had millions ‘invested’ with friend Melissa Caddick. Source: supplied ABC
Cheryl Kraft Reid and wife Faye Reid had millions ‘invested’ with friend Melissa Caddick. Source: supplied ABC

Ms Caddick vanished from her home in Dover Heights in Sydney's affluent eastern suburbs on November 12 last year and had not been seen since. She left behind husband Anthony Koletti and her son, 15. There is no suggestion Mr Koletti had anything to do with his wife's business dealings.

Ms Kraft Reid, 53, and her wife Faye Reid, 69, had their money invested with Ms Caddick for about five years and thought their investments were being well managed.

"My family (had) seven accounts we trusted Melissa with and it was millions … so besides the news we are unlikely to see any returns from that it's pretty devastating," she told 2GB.

"It's not just about getting money back, it's about seeing consequences for what's happened to us. For many years we've worked for zero returns now because she decided to live an entitled and frivolous life spending it on high-end products."

Melissa Caddick with retired soccer player Craig Foster (left) and her husband Anthony Koletti. There is no suggestion Mr Koletti had anything to do with his wife’s business dealings. Picture: Faceboo
Melissa Caddick with retired soccer player Craig Foster (left) and her husband Anthony Koletti. There is no suggestion Mr Koletti had anything to do with his wife’s business dealings. Picture: Faceboo

Ms Kraft Reid said she felt "stupid" for giving Ms Caddick some leniency in her last phone call, which she recalls was around September.

"Yeah, it is quite interesting looking back on it," she said. "We had lost quite a bit of money during COVID, our fictitious accounts had told us.

"I called her to say, 'Don't worry about it; it's a result of COVID and I'm sure we'll make it back.

"I'm sure she got off the phone from me thinking, 'What a sucker'."

Ms Kraft Reid said all that was left was a bitter taste in her mouth.

"She (Ms Caddick) was a bit of a sociopath; thought she was smarter than everyone else, and she thought she could get away with it," she said.

Originally published as 'No closure': Conwoman's victim speaks



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