An alleged fraudster accused of running a £740 million (€917 million) property con broke down in tears yesterday as he told of receiving death threats after he came under investigation.

Alexander Williams and Achilleas Kallakis, both 44, are accused of swindling AIB out of £740 million in property loans obtained using fake guarantees from Hong Kong estate agent Sun Hung Kai Properties (SHKP).

Yesterday Mr Williams elaborated on a statement he had made earlier, claiming he had been threatened after he was put under investigation by the UK Serious Fraud Office.

He told jurors at Southwark crown court he had received sinister phone calls from a person who threatened to kill his family. Mr Williams also claimed someone had thrown a brick through his window.

He sobbed as he recalled three sinister phone calls from a speaker with a “Far Eastern” accent days before he was first questioned by the Serious Fraud Office in May 2009.

“I received three calls in fairly rapid succession. They informed me that if I spoke to anyone about what had happened then I and my family would be killed.”

He said he did not recognise the caller’s voice. Asked by his solicitor, Peter Caldwell, if he knew who might have made the calls, Mr Williams said he “wasn’t sure” if it was his former broker, Richard Lee, or “more likely” SHKP.

Later in the hearing Mr Williams admitted lying to jurors about the details of a previous conviction for applying for passports on false pretences.

Forged passport form

Asked by prosecutor Annabel Darlow about whether he had signed a passport application in the name of George Grant, Mr Williams initially answered: “I did not put the signature on it but I was responsible for it.” But soon after when Ms Darlow asked if he had put a “forged signature on documentation”, he said: “Yes.”

He was next asked by Ms Darlow: “So when you told the jury earlier that you were not responsible for forged signatures on passport documentation that was a lie?” Mr Williams said: “Yes.”

The trial continues.