The government has promised a fair trial for fugitive banker Rakesh Saxena, extradited from Canada to face charges of embezzling tens of millions of dollars in a scandal that helped trigger the 1997 Asian financial crisis.
An Indian national, Saxena lost a 13-year fight against extradition when Canada's Supreme Court refused to hear his final appeal on Thursday.
He was put on a Thai Airways International flight out of Vancouver, with an escort of Thai police and legal officials, that was due to arrive in Bangkok late on Friday.
Saxena stands accused of embezzling 1.7 billion baht (currently US$48 million) from the Bangkok Bank of Commerce, which subsequently collapsed in 1996 and was taken over by the Bank of Thailand.
He fled to Vancouver and was arrested in July 1996 at the request of Thai police. He fought tooth and nail against extradition to Thailand while continuing financial wheeling and dealing in Canada.
"The Canadian Supreme Court on October 29 rejected Saxena's appeal filed on June 7, 2009. Therefore his extradition case ended and he was extradited to Thailand," Attorney-General Chulasingh Vasantasingh told reporters on Friday.
"He has been handed over to Thai authorities in Canada and is due to arrive in Bangkok at 9.30pm. The Attorney-General's Office will then hand him over to police for further investigation and the filing of formal charges with the court."
The Vancouver Sun newspaper on Thursday published an extensive backgrounder on Saxena and his activities while he has been in Canada. See: http://tinyurl.com/yfue7lc
Prime Minister Abhisit Vejjajiva said the case against Saxena will proceed strictly according to law, and the government will not protect any politicians found to be involved.
“If any politicians found to be involved in the BBC corruption case will face appropriate legal action,'' Mr Abhisit said.
The premier said the government was serious about proceeding with the case, otherwise it would not have worked so hard and so long to extradite Saxena to Thailand.
Chartthai Pattana Party spokesman Watchara Kannika earlier today called on the government to take legal action against those politicians involved in shady dedalings with the Bangkok Bank of Commerce before its collapse.
He pointed out that the bank's failure in 1996 had marked the start of the 1997 economic crisis.
Deputy Prime Minister Suthep Thaugsuban also promised the government would not meddle with the trial, which is a sensitive because some members of the shaky coalition government have been accused of having ties to the case.
"Everything will proceed in accordance with the law. The government will not interfere or assist any suspects even if they are in the government coalition," Mr Suthep told reporters.
He also said that the ruling Democrat Party will not use this matter as an excuse to negotiate for a better deal with the Bhumjaithai coalition party.
Saxena had connections with the so-called Group of 16 politicians who include Newin Chidchob, now the Bhumjaithai Party's de facto leader.
In 1989 Saxena became adviser to Krirk-kiat Jalichandra, senior vice-president of Bangkok Bank of Commerce. Krirk-kiat is now serving long jail sentences.
The bank reportedly tried hostile takeovers of many large Thai companies listed on the stock exchange and gave cheap, often unsecured, loans to various public officials and politicians in Thailand, India, Russia, Sinagapore, Saudi Arabia and Lebanon.
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.
Attorney-General Chulasingh said investigators had evidence of more than 20 cases of alleged fraud involving Saxena but he would face trial only on the single charge on which he was formally extradited.
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- Writer: Online Reporters and AFP
