Poker player charged with massive bank fraud

Poker player charged with massive bank fraud

Wednesday, 3 March 2010

London-based property tycoon and sometime poker player Achilleas Kallakis has been remanded on bail until 4th May by City of London Magistrates court after being charged with deception, fraud and forgery relating to the Allied Irish Bank and the Bank of Scotland.

After an investigation by the Serious Fraud Office in association with City of London police, Kallakis and his co-accused Alexander Williams have 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 one count of obtaining a money transfer by deception. If found guilty the pair face up to ten years in prison.

Kallakis will be a familiar face to many TV poker viewers. His best results were a third place finish in the 2005 Pacific Poker Open where he pocketed £100,000 and two wins in PartyPoker's Poker Den for £50,000 apiece. He's probably best known for being involved in one of the most extraordinary hands in televised poker history though.

Kallakis was eliminated from PartyPoker's European Open III holding after his pocket aces were cracked by pocket queens. Nothing extraordinary about that but throw in the fact that another player had pocket kings and two other players had smaller pocket pairs and you've got a monstrous hand. You can see the coldest of cold deck hands here.

Tags: Poker News, Poker, player, charged, with, massive, bank, fraud