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- Saxena arrives on Thai soil to face charges
- Published: 31/10/2009 at 12:00 AM
- Newspaper section: News
Bangkok South Criminal Court has on Saturday morning permitted police to detain fugitive banker Rakesh Saxena, former executive of the failed Bangkok Bank of Commerce (BBC) for 12 days as requested.
Reporters swarm the Crime Suppression Division headquarters where Rakesh Saxena was detained last night. NATTHITI AMPRIWAN
Pol Lt Gen Pongsaphat Pongcharoen, spokesman of the Royal Thai Police, said the police had last night completed the first round of investigation of Mr Saxena who denied all the charges. He said police opposed the suspect’s bail because Mr Saxena could again runaway.
Primer Minister Abhisit Vejjajiva said on Saturday morning that he would allow Mr Saxena to meet him as requested. He wanted to know whether there were any politicians being involved in the BBC embezzlement cases. Mr Saxena said after arriving on Thai soil on Friday night that he wanted to personally meet the prime minister to uncover all information about the embezzlement case.
Earlier story:
Police prosecutors are not going after any members of the so-called Group of 16 in the embezzlement case against fugitive banker Rakesh Saxena who arrived in Bangkok last night after losing a bid to avoid extradition, a highly placed source says.
There has been no evidence to implicate politicians in the fraudulent loan case involving City Trading Corp for which Mr Saxena has been extradited to stand trial, said the source.
It is alleged the Indian-born financier fabricated loans to siphon millions of baht from the now-defunct Bangkok Bank of Commerce and many of the loans were reportedly extended to politicians in the Group of 16, their families and friends.
The members of the Group of 16 include Newin Chidchob, now the Bhumjaithai Party de facto leader.
Also see: Ex-banker could name politicians in BBC drama
And also: Officials fret how to charge Saxena
And also: Suthep refuses comment in Saxena case
Mr Saxena has been indicted on charges of conspiring to embezzle 1.65 billion baht from the collapsed bank and of violating the securities and exchange law.
But the source said there are 20 other similar lawsuits on fraudulent loans pending against the suspect and they may or may not implicate politicians.
"We will have to consider them on a case by case basis," the source said.
It has been speculated that Mr Saxena's return to fight the charges will drop a bombshell on the coalition government whose core members he has close connections with.
The source said that as a suspect, Mr Saxena's statements implicating others are not sufficient without concrete evidence.
"But they [politicians] do not have the authority to approve the loans, so it is hard to go after them. Even though their collateral is not enough to secure the loans, it is not their fault - unless there is evidence of conspiracy and benefit-sharing," said the source.
Veerapol Muttamara was among the politicians who did not have enough collateral to secure loans. He was slapped with civil lawsuits and declared bankrupt.
Early in the day, Attorney-General Chulasingh Vasantasingh said Mr Saxena would be taken into police custody when he arrived in Thailand.
Mr Saxena arrived last night from Vancouver via Beijing after the Supreme Court of Canada declined to hear his appeal seeking to overturn a lower court decision upholding the extradition.Mr Chulasingh expressed confidence that formal charges would be filed with the court before the statute of limitations expires on July 20 next year.
Mr Chulasingh played a key role in seeking Mr Saxena's extradition from the beginning.
As a deputy chief prosecutor for foreign affairs, Mr Chulasingh headed a working team on the extradition process.
He said Mr Saxena also faces 20 other similar lawsuits with combined damage of 10 billion baht. Several alleged accomplices have been indicted or are now being tried.
He said he would inform the Canadian authorities of the pending charges against Mr Saxena to assure them the extradition proceeds in line with the agreement.
He added that Thai authorities will also seek to seize Mr Saxena's overseas assets worth more than US$20 million but noted the process will take time.
Meanwhile, Puea Thai MPs yesterday voiced concerns for Mr Saxena's safety and urged the government to step up security for him.
MP for Chiang Rai Surasit Chianwichak said Mr Saxena's statements will likely drop a bombshell on the political scene.
"There are a lot of people who stand to lose in this case and do not want him to talk. These people are enjoying a good life and do not want to end up as suspects," he said.
Puea Thai spokesman Prompong Nopparit said Mr Saxena's statements are likely to give the Democrat Party political leverage over its partners.
"Core members of the Group of 16 are instrumental in the government. If Mr Saxena talks and implicates them, the coalition will be shaken," he said.
Prime Minister Abhisit Vejjajiva yesterday promised a fair trial, saying the government would not meddle with it.
"The government will do its best to help but will not interfere or lead the case," he said.
"We will take this case seriously. No one in the government will be protected."
Deputy Prime Minister Suthep Thaugsuban said the return of Mr Saxena would not affect relations between his party and other coalition partners.
About the author
- Writer: Post Reporters
- Position: Reporters
