Once ranked the 11th wealthiest Greek in the world – and presently ranked 3rd on the Hendon Mob's All Time Money List for Greece with $345,090 in live poker earnings - Kallakis had become a leading property investor in London real estate. However, the bank loans he and Alexander Williams obtained from AIB to fund their investments are alleged to have been fraudulent. AIB accuses Kallakis of embellishing the details of tenant leases in order to procure greater loans. Additionally, the pair are incriminated with fleecing the Bank of Scotland with a 2008 loan.

Investigations into the allegation made by AIB resulted in raids on three of the properties in question. Each of the two men have been charged with 2 counts of conspiracy to defraud, 2 counts of money laundering, 5 counts of fraud by false representation, 13 counts of forgery, and 1 count of obtaining a money transfer by deception. Both men have posted bail, and will return to court May 4.

Full report here