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.