AIB ‘part of gold rush buying into London property’

AIB lent property tycoons Achilleas Kallakis and Alexander Williams 12% more than was needed to buy the Daily Telegraph’s London headquarters building, at a time when it was keen to invest in UK real estate, jurors heard at Southwark crown court.

AIB ‘part of gold rush buying into London property’

The pair are accused of more than £60m (€74.6m) fraud against AIB and Bank of Scotland. They have pleaded not guilty to 23 counts.

On day five of the retrial, defence counsel for Mr Kallakis said: “AIB was clearly part of the gold rush (of banks looking to buy into the booming London property market)”.

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