Bt100 million of Saxena's cash recovered

The Legal Execution Department has retrieved another Bt100 million in assets from Switzerland that belonged to Indian businessman Rakesh Saxena, sentenced last year to 10 years in prison for embezzlement from the now-defunct Bangkok Bank of Commerce.

Saxena fought a 13-year battle against extradition from Canada before his return to Thailand last year.

Department chief Wisit Wisitsoraat said Thursday the department joined with the Office of the Attorney General and the Bank of Thailand to uncover more hidden assets in Switzerland, Bt415 million of which had been previously retrieved. An estimated Bt100 million more is scattered all over Europe, and will also be recovered soon and used to pay the failed bank's creditors, Wisit added.

The Nation