AIB exec: Kallakis 100% in control

A senior AIB banker claimed there was no doubt that Achilleas Kallakis was at the helm of a number of special-purpose vehicles used to buy UK properties, jurors at Southwark crown court in London heard.

Mr Kallakis and his business partner Alexander Williams are accused of over £60m (€75.6m) of fraud against AIB and Bank of Scotland. Both have pleaded not guilty to 23 counts.

As the retrial entered its fourth week, Stuart Muldowney, who worked in AIB’s property team, was asked who he believed was ultimately in control or behind property purchases, which AIB loaned £740 for.