‘Phantom’ fraudster stays jailed

A convicted fraudster who duped notable New Zealanders out of millions of dollars has been declined parole for a second time.

In a reserved decision, released this week, the Parole Board said it concluded Australian/Greek citizen Loizos Michaels, who is serving eight years in prison on 30 counts of fraud or deception, was still a risk to the community.

Michaels – who referred to himself as ‘‘The Phantom’’ – was sentenced to eight years’ jail in 2012 for fraud that saw his victims handing over more than $3.2 million. The New Zealanders he duped included All Blacks great Jonah Lomu.

He was first up for parole in 2015 at which point the board noted that, though he fully acknowledged his crimes, it did not place much weight on his remorse and he still posed a risk.

Michaels lived in Australia until about 2006 and was convicted there of crimes of dishonesty in 1995. The board said it seemed he was sentenced again in 2006 for a crime of obtaining property by deception between April 1 and July 31, 2003. After he came to New Zealand he committed the crimes in question during 2007 and 2008. The fraudulent offending fell into two categories and in two different ways. It was described as being at a very personal level.

Lomu was tricked into months of publicity work after Michaels presented him with a proposal to become ‘‘the global face of kickboxing’’.

National Party president Peter Goodfellow gave evidence during the trial after he loaned his friend Stephen Lyttleton, the former boss of the Christchurch Casino, $114,000 to help fund one of Michaels’ schemes.

Michaels is subject to a removal order and will be deported to Australia when released from prison, whether on his sentence end date, or on parole.

The board said Michaels had certain personality and character qualities which he needed to recognise and manage his own risk.