Wednesday, 1 April 2020


The man at the centre of the massive mortgage fraud in which Allied Irish Bank was targeted was named in today's Guardian as Stefan Kollakis. In 1995 he was convicted of selling bogus feudal titles to foreigners for as much as st£85,000. While working in a travel company he set up a fake 'heraldic institution'. He later re-invented himself as Achilleas Kallakis and was able to fake enough references to persuade lenders to to hand over millions of pounds to build up an impressive property portfolio between 2003 until 2007.

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