Canadian Court Orders Surrender to Thailand on Fraud Conspiracy

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Saturday, September 1, 2001
Bruce Zagaris
In 2000, the Supreme Court of the British Columbia dismissed preliminary objections of S and ordered S’s committal for surrender to the Kingdom of Thailand on charges of conspiracy of fraud. The Thai Government alleged that S worked as the personal adviser to the President of BBC, a Thai bank. Allegedly he had authority to give instructions to other bank staff, including the Vice Director of Financial Administration and International Banking facilities. He was also in charge of foreign exchange and 62 companies with head offices in Bangkok, which were also clients of BBC. He allegedly handled all the business of those companies with the Bank and approved their loan applications. He controlled City Trading Corporation (CTC), a company that had no assets or employees. He approved a loan of the equivalent of 88 million Canadian dollars to CTC without referring it to the Board of Directors and without depositing the required securities for the loan. Rather than using the money for the purpose for which the loan was taken, it was used instead to clear some outstanding loans owed to the bank…[more]