AIB deal ‘gift from heaven’ for property firm

A top London estate agent described AIB’s conduct as “strange” in response to an alleged fraud case.

Achilleas Kallakis and Alexander Williams are accused of more than £60m (€75m) fraud against AIB and Bank of Scotland. Both have pleaded not guilty to 23 counts.

Gary Hersham, MD of residential specialist Beauchamp Estates, which sells some of the most expensive properties in central London, was asked in court about his opinion of AIB’s quick-fire sale in 2008 on a property portfolio it had seized from Kallakis.