TWO JAILED FOR GBP740 MILLION UK PROPERTY LOANS FRAUD
January 1st, 2013
TWO property fraudsters who rooked Allied Irish Banks (AIB) and Bank of Scotland (BoS) for hundreds of millions of pounds in loans were jailed for a total of 12 years in London on January 17, in a case exposing lax lending oversight during the 2003-2008 boom years.Achilleas Kallakis and Alexander Williams, both aged 44, were sentenced to seven and five years prison respectively for conspiring to defraud banks - principally AIB and BoS – by offering forged or false documents to secure loans totalling GBP740 million for commercial properties worth far less.They ...
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