Victorian Police are investigating allegations against a fugitive conman for ripping off millions of dollars from Victorian investors.
Smooth talking businessman Loizos Michaels (photo) allegedly stole up to $180,000 off each of his victims. The victims include pensioners and mum-and-dad investors stripped of their life savings, according to Perth Now reports.
Michaels, who is alleged to have connections with notorious bikie gang Hell’s Angels, is said to have boasted of being a step ahead of the law. The 43- year- old apparently refers to himself as “The Phantom”.
Fraud squad detectives in Victoria have been on his trail for months. They are investigating complaints by more than fifty people and believe more may come forward.
Police have a warrant for his arrest, as have authorities in New Zealand, where he has allegedly conned some prominent names.
Michaels left New Zealand on July 13th last year, during legal proceedings over a $3 million fraud prosecution.
A court initially ordered he surrender his passport as part of his bail conditions. However the passport was returned so he could return to Australia to visit his sick mother in Melbourne. He was gone four days later and has not returned to New Zealand.
A man alleged to have been involved with Michaels in some of his Melbourne dealings is in prison.
(source: neos kosmos)
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