Saturday 21 October 2017

AIB bosses need doorstepping lessons

THESE were not men used to doorstepping clients.

One of the more interesting asides which the current AIB court case -- surrounding an alleged large-scale fraud against the bank -- has thrown up is that three senior executives took matters into their own hands when they were told of apparent improprieties in one of their accounts.

Achilleas Kallakis and Alexander Williams both deny 23 fraud charges relating to €920m worth of loans allegedly taken out with false rent guarantees.

Michael Ryan, the head of business management in AIB corporate banking, told a London court this week of how, once the guarantees were said to be false, a team travelled to Switzerland to confront Mr Kallakis's associate Michael Becker.

With Mr Ryan was Donal O'Shea, a senior figure within corporate banking in Britain, and Jerry McCrohan, then head of global banking.

Mr Becker, who is not facing trial, is said to have aided Mr Kallakis in his dealings with the bank, and the three executives wanted to confront him.

When they arrived in Switzerland -- where Mr Becker has offices, as well as in Germany and the US -- they faced a lengthy and eventually fruitless wait.

And why did they not call ahead, Mr Ryan was asked? Because to do so may have run the risk that he would not be there, he said.

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