Mansion of alleged fraudster up for sale
A London mansion owned by an alleged fraudster is expected to attract bids of more than €23m tomorrow.
Located at 31 Brompton Square, Knightsbridge, the mansion was owned by Achilleas Kallakis, a Greek property tycoon who is awaiting trial for an alleged £61m (€70m) fraud.
Barclays Wealth, which has a mortgage on the property, appointed insolvency experts Begbies Traynor as the receiver to the property and the receiver has set tomorrow as the closing date for bids.
Mr Kallakis and his business partner Alexander Williams are awaiting trial for an alleged £56m fraud against Allied Irish Banks and £5m fraud against Bank of Scotland.
The two have each been charged with two counts of conspiracy to defraud, 13 counts of forgery, five counts of fraud by false representation, two counts of money laundering and a count of obtaining a money transfer by deception.
AIB had to write off €63m as a result of losses on loans which it gave the duo between 2003 and 2007 to purchase properties in some of London's most up-market areas.