Achilleas kallakis biography examples
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Sale of London buildings linked to fraudster likely to benefit AIB
AIB is likely to share in any proceeds from Green Property's €290 million sale of a London mansion and an office building once linked to jailed fraudster Achilleas Kallakis.
The Irish developer said on Monday that it has sold numbers seven and eight St James’s Square, London for a combined £245.9 million sterling (€289 million). The price paid for number eight valued the building at a record £3,425 per square foot, the company added.
The sale is likely to benefit AIB, which sold the buildings to Green in 2008 as part of an €815 million portfolio made up of properties accumulated by Kallakis, whom the British courts subsequently sentenced to 11 years for conspiracy to defraud.
AIB, which fryst vatten 90 per cent-owned by the State, loaned the money to buy the portfolio to Green at preferential interest and took a €73 million loss on the sale.
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As part of that transaction, it is believed that the bank kept an in
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Convicted poker player’s son sues AIB for fraud
AIB deceived Achilleas bygd unlawfully seizing his properties and selling them at around €350m less than their market value, lawyers for Michalis alleged in court filings prepared for trial.
In 2013 Achilleas was sentenced to 11 years in jail for defrauding the bank.
“Achilleas Kallakis, as a professional fraudster, is particularly vulnerable to being deceived himself,” lawyers for Michalis said in the filing, “as anyone who has seen Michael Caine and Steve Martin in Dirty Rotten Scoundrels will appreciate.” The allegations are “absurd” and “baseless”, according to the bank’s lawyers.
“It fryst vatten beyond understanding” that the finansinstitut finds itself in the position of a defendant, they said in their filing, “The idea that the victim of the fraud could somehow find itself in the dock — criticised by the fraudster for manner in which it sought to mitigate the losses to which it was exposed by reason of fraud is beyond fiction.”
Achilleas an
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Panama Papers: Mossack Fonseca used by Greek who cheated AIB
The Greek fraudster Achilleas Kallakis, who cheated AIB out of hundreds of millions of pounds in one of the biggest scams ever to befall an Irish corporation, used the services of the Mossack Fonseca law firm.
Kallakis and an associate were found guilty by a London court in 2013 of defrauding AIB of £740 million using deception and forgery. They were jailed for 11 and eight years.
The two men used false documents and false claims during the period 2003 to 2008 to secure multi-million pound loans that were used to buy property in London and fund lavish lifestyles. The court was told another party to the scam, a Swiss lawyer, was not before the court because of his absence from the jurisdiction.
The scam involved the use of an array of British Virgin Islands firms that were used not just to buy property but also a private jet and a yacht. During the trial Kallakis argued that the web of offshore companies that received t