ECONOMY

Poker circuit’s ‘Don,’ Achilleas Kallakis, convicted of fraud

Greek businessman Achilleas Kallakis, known as “The Don” on the international poker circuit, was convicted of defrauding lenders and using the proceeds to pay for trophy property, private planes, a yacht in Monaco, luxury cars, helicopters and artwork, prosecutors said on Wednesday.

Kallakis, 44, and co-conspirator Alexander M. Williams, also 44, defrauded banks to borrow 740 million pounds (891 million euros) and acquire 16 properties, Britain’s Serious Fraud Office said on Wednesday in a statement.

[Bloomberg]