Accused ‘forged documents’ to dupe AIB into loans

Prosecutors in a massive property fraud case in London said one of the accused fabricated documents to convince AIB to loan money for real estate deals.

Achilleas Kallakis and Alexander Williams are accused of more than £60m (€74.1m) of fraud against AIB and Bank of Scotland. Both have pleaded not guilty to 23 counts.

Speaking at Southwark crown court, the prosecution said that Williams had forged signatures and invented documents which purported to show Hong Kong-listed Sun Hung Kai Properties as the guarantors behind properties AIB had lent £740m for the accused to buy between 2003 and 2008.

“These documents were invented with forged signatures to give the bank an illusion of a good relationship with SHKP,” said the prosecution.

Williams denied the allegation. He said there were various documents and a memorandum of understanding between him and SHKP, but that they were stored at his old office in Monaco, and had since been lost.

Williams added that he believed ex-SHKP chairman Walter Kwok had “acted dishonestly”.

When called as a witness earlier in the trial, Kwok claimed his signature had been forged and that he had never had a business relationship with the accused.

Williams said: “I [now] believe Mr Kwok was doing maverick deals on the side. I believe Mr Kwok knew exactly what was going on.”

Williams’ evidence is due to conclude shortly, with the prosecution and defence making their final statements before Christmas.

A jury verdict is not expected until the new year.

© Irish Examiner Ltd. All rights reserved

Email Updates

Receive our lunchtime briefing straight to your inbox

More in this Section

The Monday Interview: Former Dublin star Conal Keaney is on his bike to promote his business

Apple’s core product key to realisation of $1tn dream

Brexit talks: Now it’s crunch time for Ireland

Nama defiant over ‘lost €18bn’ claim


Breaking Stories

Mixed day on Wall Street as Washington politics unsettles investors

Oil firm locates 'largest undeveloped discovery' in British waters

Average house price increases by 10.9% over 12 months

You can now fly from Cork or Dublin to Chicago with WOW air

Lifestyle

Meet the US firefighter running the Cork City Marathon with his severely ill daughter

'You’re doing phenomenally well with brilliant men; why wouldn’t you want brilliant women too?'

Damien Enright: The fascinating Armoured Ground Crickets are perfect look-alikes for horror-film aliens

Jess Kavanagh is putting some real bite in her Barq

More From The Irish Examiner