An India born banker in Thailand was found guilty of fraud of $80 million. The court has given him 10 years of imprisonment. He was booked under corruption charges after he advised Bangkok Bank of Commerce until 1996 where he allegedly took large amounts of money that led to the collapse of the bank.
The court has found that this collapse of the bank resulted in baking crisis in Asia. Following the complaints, Saxena was taken into custody in Vancouver of Canada three years ago. During the trial, Bangkok South Criminal Court heard the way Saxena had set up 60 businesses. The court also heard how he channeled large amounts of money into his personal accounts in Swiss banks.