A B.C. Court of Appeal judge ruled Monday that Rakesh Saxena won't be able to return to his luxury Vancouver condo under a unique house-arrest arrangement, according to the Vancouver Sun.

"The (flight) risk is greater now with the process so far advanced," said Justice Mary Saunders in rejecting the fugitive banker's bail application.

His lawyer, Russ Chamberlain, plans to appeal the bail decision and has already filed a request for the Supreme Court of Canada to hear the extradition case.

Saxena is accused of looting the Bangkok Bank of Commerce of $88 million, leading to a run on the bank's deposits and causing its collapse.

Saxena has been fighting attempts for almost a decade to extradite him back to Thailand to face charges, the paper said.

Last week, the B.C. Court of Appeal rejected Saxena's attempt to overturn the justice minister's order that he be extradited.

Chamberlain had claimed in court that Saxena would be tortured or even killed if returned to Thailand.

But the three Appeal Court justices ruled the minister's decision wasn't unreasonable, especially since the minister went the extra step of getting assurances from Thailand that Saxena would not be mistreated.

Chamberlain believes the appeal process to the Supreme Court of Canada will take about another 18 months if the high court gives him leave to appeal.

"My main argument is that the allegations for his return under the Thai Securities and Exchange Act is that the Act doesn't apply to Saxena," he said.

"Normally you would have to be a broker or a securities dealer. He was none of those," Chamberlain noted.

If the Supreme Court of Canada application fails, Chamberlain said his client would be surrendered to Thailand.

Even that is "subject to possibility, for example, that the Thai government should fall and go into military dictatorship, which I understand right now is a possibility," he said.

If that were the case, Chamberlain said he would reapply to the justice minister.

While they await word from the Supreme Court of Canada, Chamberlain said he will be applying to the chief justice of the B.C. Appeal Court for leave to review the decision refusing bail to his client.

Earlier in his detention, Saxena is alleged to have tried to purchase a passport under a false name to run from Canada and avoid extradition.

Saunders said that allegation, combined with the fact he has nearly exhausted his lengthy appeal process, led to her decision to detain Saxena, the paper reported.