Pair jailed for conspiring to swindle hundreds of millions from banks

Two fraudsters who conspired to swindle banks of hundreds of millions of pounds have been jailed.

Achilleas Kallakis and Alexander Williams, both 44 and from London, tried to defraud AIB out of £740m (€887m) and Bank of Scotland (BoS), as it was known, of €26m between Aug 2003 and Nov 2008.

The offences were carried out over five years and funded property and luxury yacht scams.