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.

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