Achilleas Kallakis and Alexander Williams ordered to pay total of £3.7m
23 Medi, 2014 | Eitemau newyddion
Fraudsters Achilleas Kallakis and Alexander Williams, convicted and sentenced for defrauding banks of millions of pounds and euros to obtain finance, were ordered to pay confiscation orders to the total value of £3.7m at Southwark Crown Court today.
Achilleas Kallakis was ordered today to pay £3.25m, within six months, or serve a default sentence of seven years’ imprisonment in proceedings which commenced on 15 September before HHJ Goymer.
Alexander Williams received a confiscation order of £477,474.25, on Monday 15 September, payable within six months, or to serve a three year default sentence.
Both were jailed and disqualified from acting as company directors in January 2013 following guilty verdicts. The offences involved conspiring to defraud banks, principally Allied Irish Bank and the Bank of Scotland, through deception and forgery in order to obtain finance for a property portfolio and a super-yacht conversion.
Commenting on the outcome, Mark Thompson, Head of the SFO’s Proceeds of Crime Division said:
“The SFO is committed to ensuring that fraudsters do not retain the benefit of their crimes. Following a lengthy and challenging confiscation investigation by the Proceeds of Crime Division, the court has made a substantial order against Mr Kallakis. We will take steps to make sure the order is satisfied within the period set by the court but if he does not pay, he faces a further lengthy term of imprisonment.”
This is the ninth confiscation order secured this financial year bringing the total value of SFO confiscation orders made during this period to £18.9m.
Notes to editors:
Further background through the conviction and sentencing press releases are available respectfully here and here.
- The prosecution was represented at the hearing by Anabelle Darlow and Penelope Small.