Achilleas Kallakis’ and Alexander Williams’ Mayfair HQ was emptied of its artwork in the days following a visit by Allied Irish Bank auditors, Southwark Crown Court heard today.
In the ongoing hearing into an alleged £63m fraud against AIB and Bank of Scotland, Nigel Dransfield executive assistant at Kallakis’ Atlas Group said that the arrival of auditors to
Kallakis and Williams both plead not guilty to the charges.
“It was quite dramatic as it happened and the attitude of Kallakis and Williams to the arrival was one of panic. They looked worried,” Dransfield told the court.
He added that payments and the liquidity of the company changed “dramatically” after the AIB visit.
“There was a shortage of cash and we were not being paid our salaries on time. The building was being emptied and paintings in it were being sold.”
Dransfield also claimed unpaid bills were being chased by builders doing work for Kallakis in
The case continues.
