Achilleas Kallakis, who styled himself as a property and shipping magnate, perpetrated a massive mortgage fraud on AIB and was jailed for seven years in 2013, later increased to 11 years on appeal. However, Kallakis’ son Michalis is now accusing AIB of fraud by selling a portfolio of properties for less than they were worth. He is seeking £237 million from the bank, which says the lawsuit is “divorced from reality” and orchestrated with Achilleas. Michalis’ lawyers in turn cited the 1988 comedy film Dirty Rotten Scoundrels to demonstrate how a fraudster might himself be duped. “Achilleas Kallakis, as a professional fraudster, is particularly vulnerable to being deceived himself,” Julian Malins said in court filings, adding in a footnote: “As anyone who has seen Michael Caine and Steve Martin in Dirty Rotten Scoundrels will appreciate.”

Source: The Herald June 14, 2023 09:41 UTC