Convicted Poker Player’s Son Sues AIB Over Fraudulent Conspiracy

AIB Group Plc, once tricked into lending a poker-playing fraudster £740 million ($930 million), is now being accused by his son of fraud and wrongly selling his assets to recover the ill-gotten gains.

The Irish lender was sued in London by Michalis Kallakis, son of Achilleas Kallakis who’s known as “The Don” on the international poker circuit. AIB deceived Achilleas by unlawfully seizing his properties and selling them at around £300 million less than their market value, lawyers for Michalis alleged in court filings prepared for trial.

In 2013 Achilleas was sentenced to 11 years in jail for defrauding ...