Saxena to stand trial for Bt140m banking fraud

BANGKOK: -- Public prosecutors on Thursday filed a criminal writ charging Indian-born financier Rakesh Saxena involving in Bt140 million banking fraud, part of the scam which led to the collapse of Bangkok Bank of Commerce in 1996.

Saxena was indicted for violations related to banking and stock market laws to embezzle the BBC by extending a bogus loan to a company Star Luck Footwear.

The Criminal Court has set a first hearing on May 31.

-- The Nation 2010-01-28

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I hardly think that a mere 140 million baht scam brought a bank down....

Yes but it allows the Thai's to pass the fault of the Banks demise to an Indian.

As you will know if you have been here any length of time it couldn't possibly have been the fault of a Thai

Edited February 7, 201016 yr by bkkath

Oh good. This might be a whole load of fun if ALL the facts come out during the trial. On the other hand a deal might have been made - no naming of puu yais and you get a year's probation. We shall see. Either way Thailand loses out.

Oh good. This might be a whole load of fun if ALL the facts come out during the trial. On the other hand a deal might have been made - no naming of puu yais and you get a year's probation. We shall see. Either way Thailand loses out.

How does Thailand 'lose out' if all the facts are known?