Media playback is unsupported on your device

Men jailed over 'audacious' £61m fraud

17 January 2013 Last updated at 19:12 GMT

Two men from London have been sent to jail after being found guilty of defrauding two banks, Allied Irish Bank and Bank of Scotland, of £61m.

Achilleas Kallakis and Alexander Williams, both 44, were sentenced to seven years and five years respectively, at Southwark Crown Court.

Between 2003 and 2008, they duped the banks into lending them money to buy properties and a super-yacht.

Luisa Baldini reports.