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Achilleas Kallakis and Alexander Williams jailed

17 January, 2013 | News Releases

Fraudsters Achilleas Kallakis  and Alexander Williams have been sentenced to seven years’ and five years’ imprisonment respectively and have been disqualified from acting as company directors for six years.

Today’s sentencing at Southwark Crown Court follows unanimous verdicts returned by the jury yesterday, 16 January, when the defendants  were convicted of conspiring to defraud banks, principally Allied Irish Banks and the Bank of Scotland, of millions of pounds and euros through deception and forgery in order to obtain finance for  a property portfolio and a super-yacht conversion.  See our press release of 16 January for case outline.

Confiscation proceedings are to take place at a future date.

Commenting on the outcome, SFO case manager Ronan Duff said, “This was an audacious, persistent fraud that enabled these defendants, Mr Kallakis in particular, to lead the lifestyle of the super-rich. The SFO have been equally persistent in investigating this elaborate scam and in ensuring that justice has been delivered”.