After 8-week fraud trial, Loizos Michaels jailed for 8 years – guilty of all 30 charges

Press Release – Serious Fraud Office
Loizos Michaels (45) has today been sentenced to eight years’ imprisonment in the Auckland District Court. The sentence is the result of Crimes Act charges laid by the Serious Fraud Office in 2009.

A complex, eight-week trial concluded last month when Mr Michaels was found guilty by Judge Field of all 30 charges of obtaining or causing loss by deception, which the SFO had pursued against him.

The period of offending in New Zealand occurred from March 2007 to August 2008. The total ‘investments’ given to Mr Michaels and investigated by the SFO were in excess of $3 million.

Acting Chief Executive of the SFO, Mr Simon McArley said, “This brings to a close a long, complex and sometimes colourful case. These cases consume significant resources but it is important to do this to provide an effective response to serious financial crime.”

Background information
Loizos Michaels is known to use numerous aliases, including Michael Loizos, Michael Lozis, Michael Loizis, Michael Loizou, Michael Loizs and Michael Callis. His correct identity according to his Australian Passport is Loizos Michaels. He is 45 years of age. He is believed to have been born in Cyprus, but grew up in Melbourne Australia. Mr Michaels’ elaborate and extreme deceptions included claims that he: – had wealthy Greek Cypriot family contacts; – had personal and business relationships with leading Asian and Pacific casino owners; – was orchestrating a takeover bid for the Sky City casino group; – was involved in an array of other property developments and overseas projects – had knowledge of death threats against investors – had the support of high profile members of the community – had relationships with a broad range of individuals from Belgium bank managers to law firms to the Hells Angels and Yakuza criminal gang.

Content Sourced from scoop.co.nz
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1 comment:

  1. Marcia Collier, 18. December 2012, 16:37

    I have been following this case and am absolutely exhuberant at the outcome. This man cost me my home in an indirect way and cost my vendors at Gulf Harbour $30,000 in legal fees. Michaels hopefully will spend more time in jail when he is extradited to Australia to face further charges after his sentence in NZ has been served. I am finally able to rest knowing that he cannot harm anyone else.

     

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