Friday 24 March 2017

Note-taking queried in Kallakis case

courts

Shane Hickey in London

A SENIOR staff member at AIB has said he "can't recall" taking notes during a meeting with a man who has been accused of defrauding the bank in a £740m (€850m) scam.

Stuart Muldowney, a former member of the property team in AIB's London office, told a court yesterday that he may or may not have made notes of a meeting with Achilleas Kallakis in 2008.

Mr Kallakis and his business partner, Alexander Williams, deny 23 charges including conspiracy to defraud, fraud, forgery, money laundering and obtaining a money transfer by deception.

The pair are accused of using forged guarantees from a reputable Hong Kong property company -- Sun Hung Kai Properties -- to secure loans totalling £740m between 2003 and 2008.

Yesterday, Mr Muldowney, who still works with the bank, said his final meeting with Mr Kallakis was in 2008, shortly before the allegations emerged.

Questioned by George Carter-Stephenson, for Mr Kallakis, Mr Muldowney said he may or may not have taken notes during the final meeting.

"I can't recall," he told Southwark Crown Court in London.

The case continues.

Irish Independent

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