Thailand prepares for arrival of fugitive financier
Bangkok - After a 13-year wait, Thailand's judiciary is ready to proceed with 20 cases against fugitive alleged finance fraudster Rakesh Sexana upon his scheduled arrival in Bangkok late Friday, the attorney general said.
On Thursday the Supreme Court of Canada denied Saxena's request for a hearing to overturn a lower court ruling that he be extradited to face fraud charges in Thailand.
Saxena, after spending 13 years in Canada fighting Thailand's extradition request, is scheduled to arrive at Suvarnabhumi International Airport in Bangkok at 9:30 pm (1430 GMT), after transiting in Beijing, Thai Attorney General Chulasing Wasantasing told a press conference.
Saxena, a Thai national of Indian descent, has battled against extradition on claims that he would not get a fair trial in Thailand and might face human rights abuses.
His case has been the longest extradition case in Canadian history.
"We have told the Canadian Supreme Court that we will guarantee the health and security of Rakesh," Chulasing said, referring to Saxena by his first name as is the norm in Thailand.
Saxena, 57, fled Thailand in May, 1996, shortly after the Thai government was forced to take over the ailing Bangkok Bank of Commerce (BBC) of which Saxena was a former senior executive.
Thailand asked Canada to extradite Saxena on to face charges that he had embezzled 1.6 billion baht (82 million dollars) from the bank through a fraudulent loan to Citi Trading Company, a Saxena proxy firm.
There are about 20 cases pending against Saxena in Thailand.
"The prosecutors are ready to proceed," Chulasing said.
The Thai attorney general added that authorities had traced about 65 million dollars in offshore bank accounts belonging to Saxena, including 4 million dollars in the UK, 6.4 million in bank accounts on the island of Guernsey, a British dependency, and 54 million in accounts in Switzerland.
Thailand has already seized 42 million dollars from Saxena's Swiss accounts, Chulasing said.
Saxena was one of the so-called financial wizards of Thailand's economic boom era in the early 1990s. The collapse of the BBC that he helped run highlighted the poor regulatory environment that eventually led to Thailand's, and the region's, financial crisis of 1997.
In 2005, Thailand's Criminal Court sentenced BBC's former president Krirkkiat Jalichandra to 50 years in jail and fined him 472 million dollars. (dpa)