Flanked by two plainclothes officers out of the airport police station, the man who referred to himself as "the Phantom" looked very different from the man who skipped the country.
With a close-cropped head of thinning and grey hair, Michaels was not handcuffed. He stopped for a cigarette before he was escorted to a marked police car.
Michaels is due to appear in the Auckland District Court for a bail hearing.
The Herald first revealed Michaels was charged by the SFO in February last year after allegedly using the name of Jonah Lomu in a fraud.
He was forced to surrender his passport as part of his bail conditions.
He later persuaded Judge Josephine Bouchier to return his passport in July last year so he could visit his sick mother in Melbourne - despite protests from the Crown that he was a flight risk.
The SFO case is that Michaels persuaded two casino executives to invest more than $2.8 million in a make-believe takeover of SkyCity casino.
He also allegedly used Lomu's name to get more than $350,000 from a couple as "security" on a Taupo luxury apartment sale which fell through.
Court documents show the two complainants in the case are former Christchurch Casino executives Stephen Lyttelton and Peter Arbuckle, who left the casino in 2007 to pursue what the SFO says were fictitious business opportunities with Michaels. The SFO alleged Michaels and his associate George Plakas from Melbourne visited Christchurch Casino in February 2007 claiming to be "high rollers" and demanding VIP treatment.
Mr Lyttelton and Mr Arbuckle began treating them to first-class service and a friendship developed.
The SFO claims Michaels told the two men he was part of a wealthy Greek-Cypriot family and was a "corporate raider" for the Melco casino empire, owned by the mega-wealthy Ho family in Macau.
Michaels allegedly offered Mr Lyttelton a job with Melco, on an annual salary of $1 million, raised to $2.5 million, then $12 million to reflect an increase in responsibilities.
Mr Arbuckle signed a contract for a $1.5 million annual salary for 10 years.
Michaels then allegedly told the pair to invest some of their own money to "show a commitment" to Melco. Over five months, Mr Lyttelton withdrew $1,054,000 in cash and gave it to Michaels.
National Party president Peter Goodfellow - whose family are ranked 16th on the NBR rich list with about $550 million - loaned Mr Lyttelton, a friend, more than $100,000 to invest.
Mr Arbuckle allegedly gave Michaels $1,782,760 over nine months to invest. However, Mr Goodfellow became concerned at his friend's relationship with Michaels and hired private investigator Gary Howarth to make inquiries, which convinced Mr Lyttelton to go to the SFO.
Michaels was later charged with obtaining $1,782,760 from Mr Arbuckle and $1,054,000 from Mr Lyttelton.
Lomu, who was not part of the SFO investigation, said he was duped by a proposal from Michaels to become "the global face of kickboxing" but was never paid.
"I trusted him. I gave him a chance. He crapped on me," Lomu told the Herald in September 2009.
