Victorian Police is investigating allegations against a fugitive conman for ripping off millions of dollars from Victorian investors.
‘Smooth-talking’ businessman Loizos Michaels allegedly stole up to $180,000 off each of his victims, which included 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 and are investigating complaints by more than 50 people and believe more may come forward.
Police have a warrant for his arrest, as have authorities in New Zealand, where he has allegedly made fools of some prominent names.
Michaels left New Zealand on July 13 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 but 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 on remand in prison.