October 30, 2009
BANGKOK (AFP) - Thailand on Friday promised a fair trial for a fugitive banker after he was extradited from Canada for allegedly embezzling millions of dollars and helping to trigger the 1997 Asian Financial Crisis.
Indian national Rakesh Saxena lost a 13-year fight against extradition when Canada's Supreme Court refused to hear his case on Thursday, and he was put on a plane to Thailand that is due to arrive in Bangkok late Friday.
Saxena stands accused of embezzling 1.7 billion baht (52 million dollars) from the Bangkok Bank of Commerce, which collapsed in 1995. He fled to Vancouver and was arrested in July 1996 at the request of Thai police.
"The Canadian Supreme Court on October 29 rejected Saxena's appeal filed on June 7, 2009, therefore his extradition case ended and he had to be extradited to Thailand," Thai Attorney General Chulasingh Vasantasingh told reporters.
"He has been handed over to Thai authorities in Canada and is due to arrive in Bangkok at 9:30 pm (1430 GMT). The attorney general's office will hand him to police for investigation and the filing of formal charges to the court."
Thai Prime Minister Abhisit Vejjajiva vowed that the government would not meddle with the trial, which is sensitive because some members of his shaky coalition government have been accused of having ties to the case.
"The government will do its best to help but will not interfere or lead the case," Abhisit told reporters. "We will take this case seriously. No one in the government would be protected."
His deputy, Suthep Thaugsuban, said that the government "will not interfere or assist any suspects even though they are in the government coalition."
Canadian officials were not immediately available for comment.
Saxena worked as an adviser to the former managing director of the Bangkok Bank of Commerce from February to July 1995 and was accused over irregularities in loan approvals totalling 175 billion baht.
The subsequent collapse of the bank was seen as an early indication of the regulatory failures that would lead to the 1997 Asian Financial Crisis.
The Thai attorney general said they had evidence of more than 20 cases against Saxena but that he would only face trial on the single charge that he was formally extradited on.
