Kallakis fraud sentence increased to 11 years by appeals court

Greek businessman Achilleas Kallakis, known on the international poker circuit as 'The Don,' had his UK jail term for fraud increased to 11 years by an appeals court, in a victory for prosecutors who said his sentence was too lenient.

Kallakis and conspirator Alexander M Williams used "determination and audacious dishonesty to commit a commercial fraud with international proportions," Judge Christopher Pitchford said in a ruling increasing the sentence.

Kallakis, 44, was imprisoned for seven years in January when he was convicted of tricking banks including AIB into lending as much as £740 million and using the money to pay for trophy property, private planes, a yacht in Monaco, luxury cars, helicopters and artwork.

Corker Binning, the law firm representing Kallakis, didn’t immediately respond to a phone call seeking comment.