News Summary: Thai bank adviser gets prison time

Published June 8, 2012 10:46pm ET



THE SENTENCE: A former adviser to the now defunct Bangkok Bank of Commerce received a 10-year prison sentence and was fined $36 million for embezzlement that helped spark the 1997 financial crisis.

THE CRIME: Bangkok’s Criminal Court ruled Friday that Rakesh Saxena “damaged the country’s economy” and its financial and banking systems by participating in the bank making fraudulent loans to cronies of its management.

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