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article imageFugitive Thai banker extradited from Canada after 13-year fight

By Salim Jiwa     Oct 30, 2009 in Crime
Fugitive Bangkok banker who fought extradition from Canada for 13 years was put on board a plane to Thailand on Thursday. RCMP handed him over to Thai authorities at Vancouver International Airport. He is accused of embezzlement of USD $82 million.
VANCOUVER, B.C. - Rakesh Saxena, a fugitive Thai banker who fought extradition from Canada for 13 years has finally been deported to face charges in Bangkok.
RCMP said they handed over Saxena to officials from Thailand at Vancouver International Airport for onward escort.
Saxena had evaded extradition since 1996 when the Bangkok Bank of Commerce collapsed, triggering a financial crisis that resulted in the devaluation of the Thai currency 'Baht.'
He was accused of embezzling USD $82 million from the bank since he joined the organization in 1992 as an adviser to the bank's president.
In March, Saxena suffered a stroke. But the Canadian Supreme Court handed down a decision without citing reasons on Thursday that there were no further grounds on which Saxena could fight extradition.
"On Thursday October 29, 2009 the RCMP Federal Commercial Crime Section handed Mr. Rakesh Saxena over to Thailand authorities pursuant to the Government of Canada granting an Order of Surrender," said RCMP Sgt. Tony Farahbakhchian.
"The Supreme Court of Canada denied any further appeals by Mr. Saxena, in his attempt to overturn a lower-court decision upholding his extradition," he said.
"Mr. Saxena was charged in Thailand in 1996 with embezzling money from the Bangkok Bank of Commerce. The RCMP Federal Commercial Crime Section arrested Mr. Saxena for extradition matters in 1996 in Whistler, British Columbia," said Farahbakhchian in a press release.
"Since that time, Mr. Saxena has been appealing the extradition process and has been kept under house arrest with conditions," he added. "Today (Thursday), the Surrender Order was executed and Mr. Saxena was turned over to Thailand Officials at Vancouver International Airport and has been escorted from the Country."
"The RCMP Commercial Crime Section is committed to reducing the impact of financial crime on Canadians and maintaining the integrity of the economy through enforcement, public education and crime prevention," he said.
"A significant part of the enforcement strategy is to work in partnership with international authorities," said the policeman.
"By adopting this approach, perpetrators of alleged “white collar crimes” are dealt with according to the law, and reinforces the message that they are not immune to overseas prosecution."
The Bangkok Post said Saxena was to arrive in Thailand in the company of chief prosecutor for foreign affairs Sirisak Tiyaphan.
More about Fugitive, Rakesh saxena, Thai banker, Rcmp
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