The Serious Fraud Office says Simon Lawrence Wood Turnbull has been arrested at Auckland International Airport and has appeared in Auckland District Court on 38 Crimes Act charges.
The charges include nine counts of dishonestly taking or using document (section 228), 19 counts of obtaining by deception or causing loss by deception (section 240) and 10 counts of using forged documents (section 257).
The SFO says Mr Turnbull was allegedly involved in a mortgage fraud where false loan applications were submitted to a fund management company to purchase 19 properties in and around the Auckland region, between September 2006 and August 2007.
In February 2014, Malcolm Mayer was sentenced to six years' imprisonment for his role in the fraud. An arrest warrant was issued for Mr Turnbull when he failed to appear at his first court date in November 2014.
He was arrested on 8 June 2016 when he returned to New Zealand, having left on 24 March 2008 on a flight to Hong Kong.
Mr Turnbull did not enter a plea and his next court appearance will be on 4 August.