Fraud accused denies Mafia backing

Fraud accused denies Mafia backing  (Source: ONE News) Loizos Michaels sits in court. - Source: ONE News The man accused of defrauding more than $2 million from two former Christchurch casino executives is now giving evidence in his own defence.

Loizos Michaels says he inherited shares in a Cyprus-based cruise line but denies ever claiming family links to the shipping magnate.

In the Auckland District Court, the Crown alleges Michaels fabricated links to wealthy families and the criminal underworld to convince his victims to hand over money.

Michaels denied every saying that he was backed by groups such as the Mafia and the Japanese Yakuza.
His lawyer told the court his client's defence boils down to whether Michaels' credibility outweighs that of the 50 Crown witnesses.

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