AIB exec: Kallakis 100% in control
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.
He said: “Without any doubt Mr Kallakis. He was the person we dealt with, and there was never anybody else mentioned in relation to ownership. It was 100% Mr Kallakis without any doubt.”
He also said Mr Kallakis has his own yacht, private plane, and a chauffeur- driven Bentley.
Speaking about AIB’s lending between 2003 and 2008 to the accused, Mr Muldowney was called to answer why not all meeting dates and notes were recorded between the bank and Mr Kallakis.
“The official recording could have been better. It was a very busy period, and unfortunately notes were not taken as good as they could have been.”
The court also heard nine out of 11 solicitors who acted as signature witnesses for documents that were purportedly signed by two directors from Hong Kong-based Sun Hung Kai Properties (SHKP), were surprised or confused when they saw the papers years later during the Serious Fraud Office’s (SFO) probe.
All agreed that in most instances, no identification was required by those signing and a nominal fee of £5 was charged.
Timothy Bamford, a solicitor,& said he did not remember signing such a document, but did recognise his signature on it.
The prosecuting counsel also read out parts of statements from 10 other solicitors that had signed and witnessed Mr Kallakis guarantees and papers.
Of these, seven said that when they were asked by the SFO to review the papers, they recognised their own signature and company stamp, but that they were surprised they had not signed it twice under both of the SHKP signatures.
The case continues.
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