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Poker Player Convicted of High Stakes Bank Fraud

Achilleas “The Don” Kallakis, a poker tournament player is now facing several years in prison for bank fraud. The poker player along with an accomplice had cheated renowned UK banks into providing them with large funding packages to purchase property and several other personal luxury items like a yacht, planes and luxury cars.
The two men had cheated two banks into lending them GBP 740 million under false premises and had used it for their personal gain.
Andrew Goymer is the judge presiding over the case of poker player Achilleas “The Don” Kallakis. The UK based judge convicted the poker player of bank fraud and has sentenced him to seven years of imprisonment. The judge put the primary blame on poker player “The don” and sentenced Williams as an accomplice. “Achilleas Kallakis I regard you as the prime mover in this fraud you had the experience of the property market and you also had the accumulated wealth,” he said.
Alexander Williams got off with a much lighter but quite serious sentence and is now facing imprisonment of up to 5 years. “Alexander Williams you had a lesser role but by no means an insignificant one. You were involved in the production and control of the documents that allowed it,” stated Goymer as he read out the sentence later.
According to the judge and in reference to Kallakis and his accomplice Alexander M. Williams, “Both men took full advantage of the prevailing banking culture in which corners were cut and checks and applications were spurious…The two banks have undoubtedly acted carelessly and imprudently by failing to make full inquiries before advancing the money. It almost beggars belief that senior management chose to disregard that warning in its rush to complete the deal at all costs.”

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