A property dealer convicted of one of the UK’s largest ever mortgage frauds a decade ago has been ordered to pay a further £250,000 – money from a tennis club debenture identified by the Serious Fraud Office.

In a hearing today at Southwark Crown Court, His Honour Judge Baumgartner ordered that Achilleas Kallakis pay £250,000. Earlier this year the convicted fraudster was ordered to pay £92,500, recovered from a settlement over a donation to a private school.

The £250,000 was identified by the SFO after investigators traced funds through ‘a complex chain of offshore accounts, including a family trust’ to the fraud.

Kallakis’ name was displayed alongside other notable members on the debenture board at prestigious west London sports club The Queen’s Club’s reception, in return for the debenture purchased in 2007. He also received club membership and access to its men’s tennis championship.

Kallakis and co-conspirator Alexander Williams were convicted of conspiring to defraud banks of more than £750 million in 2013. Kallakis was sentenced to seven years and five months imprisonment and six years of disqualification from acting as a company director.

He and Williams used forged or false documents to obtain loans to finance a property portfolio including homes in Mayfair and Knightsbridge and the headquarters of the Daily Telegraph in central London.

Some £3.25m made up Kallakis’ original confiscation order. To date, the SFO has secured over £3.5m from Kallakis.

The specialist prosecuting authority said its proceeds of crime investigation into Kallakis’ assets remains ongoing.

SFO director Nick Ephgrave said: ‘Today we have put a stop to another attempt by Mr Kallakis to conceal the proceeds of his crime and launder his tarnished reputation. The SFO will continue to pursue criminals, no matter how long ago they were convicted or where they try to hide their assets, to ensure they don’t profit from their crimes.’