Rakesh Saxena gets 10 years for embezzlement

This is another example of a bank that failed because of investment fraud. Banks don’t just fail all on their own. Someone needs to rip them off first. We’ve talked about the Great Texas Bank robbery and the double dip investment fraud. We’ve talked about the BCCI and the Australian bank that failed as a result of the CIA’s arms dealing, drug trafficking and money laundering. Now let’s look at the Bangkok Bank of Commerce that failed because Rakesh Saxena ripped it off.

Saxena, 59, was found guilty on five counts of securities fraud between 1992 and 1995, having siphoned off tens of millions of dollars from the now-defunct Bangkok Bank of Commerce, where he was employed as an adviser.

The scandal that engulfed Bangkok Bank of Commerce caused a run on bank deposits and led to the bank's collapse, contributing to the devaluation of the baht and the regional crisis. Saxena was arrested in 1996 but was extradited from Canada only in 2009.

In the 13 years between his arrest at the Château Whistler and his deportation in 2009, the one-time Asian financial darling claimed he spent close to $20 million trying to avoid being sent back to Thailand. The cost to the Canadian taxpayer to thwart Saxena's efforts was well over $10 million.

The Bangkok South Criminal Court heard how Saxena had set up 60 businesses in Thailand and used them to secure loans from the bank to cover debts and running costs, but instead channeled the money into personal accounts, mostly in Switzerland.

"The defendant clearly demonstrated his intention to take funds from the damaged party to invest for his own personal use, depositing the funds into several overseas accounts," the judge said in reading the verdict. Estimates of the money he stole from the bank vary from $60 million to $82 million.

In this affair, he colllaborated with Oleg Boiko, a flamboyant Russian businessman; the two owned a New York brokerage firm. At that time Boiko managed the Moscow National Credit Bank. July 7, the US Dollar account number 001-6-10050 was opened at the BBC under the name National Credit Bank.

In days to follow Saxena produced a bill of exchange guaranteed by the National Credit Bank under the name Essex Corporate and Finance, a paper company registered in the British Cayman Islands controlled by Saxena. His BBC colleagues applied the standard discount and received the bill of exchange as collateral. All the BBC internal usage documents interpolated the seal "extremely urgent". In less than a week, $80 million was credited to a National Credit Bank account. June 11 1995, all the money was withdrawn and the National Credit Bank account was closed. The loan was not honoured, according to the bank, the registered bill of exchange was valueless and the National Credit Bank is now collapsed.

Rakesh Saxena blamed for the 1997 Asian financial crisis.

Once again this reinforces the premise that banks don’t just fail all by themselves, someone has to rip them off first. The great Texas bank robbery was an example of how the Bush family and the CIA ripped off banks in the /80’s through investment fraud. They defaulted on the bank loans for their fraud and bailed the banks out with tax dollars. That was the double dip. Al Martin wrote in his book the Conspirators that he was trained to commit investment fraud to raise money for Iran Contra.

We have also seen how Earl Brian, the CIA and even Mossad committed investment fraud in Canada to raise money for the October Surprise, which was a deliberate subversive act to manipulate public opinion and sway a democratic election. Robocalls times ten.

Entitlement versus Austerity

This of course brings us to the entitlement versus austerity propaganda that is sweeping Europe. The Greek financial crisis is not about entitlement, it’s about investment fraud. What was public money became private money then disappeared. That is the problem. It’s not about I’m entitled to this or that.

I am entitled to a free market where crime is punished according to the nature of the offense. I am entitled to a free market where my investments and my pensions are protected from criminals. I am entitled to a free market where thieves are not bailed out and compensated with tax dollars. That is what I am entitled to.

Assisted Suicide is not a Charter Right

This is why people trash talk the Charter of Rights. Because brain dead judges twist it completely out of context and apply it to things it was never intended to apply to. Free speech, freedom of the press, freedom of religion, lawful assembly, freedom from unnecessary searches and seizures, the right to a fair trial, the right to legal representation, these are Charter Rights. The right to assisted suicide is not in there.

Suicide is, ironically enough, illegal. Kinda hard to enforce a consequence to that law. After someone commits suicide, they can’t be sent to jail or made to pay a fine. Yet assisted suicide is hugely problematic. A BC Supreme court has just struck down the law against assisted suicide. This insane decision screams for change. We need to elect our judges like in the US. The BC Court judges are completely out of touch with reality. One judge, one flawed mortal like unto Peter Leask or Wally Oppal needs to be publically accountable. Preventing that accountability and fostering that insanely unjustified egomania is wrong.

It’s like the freedom of association does not include the right to belong to a criminal organization. The freedom of association means the right to belong to any political party or philosophy one chooses. It does not include the right to commit a crime. Just as we need to preserve and protect the Constitution and the Charter of Rights, we need to protect it from being distorted and taken out of context so it isn’t diluted and destroyed.

A number of intervenors were opposed to striking down the law, including the Euthanasia Prevention Coalition. "We're disappointed but not surprised at the radical nature of the decision today," Dr. Will Johnston, the coordinator of the Euthanasia Prevention Coalition of B.C., said outside court today.

"We"re very disappointed in this. We think this judgment decided to minimize and to disregard the evidence of harm in other jurisdictions where assisted-suicide and euthanasia has been practised," he said. "And we are extremely concerned about the situation of elder abuse, which is a major issue in Canada," Johnston said.

Two assault cases dropped against Surrey cop

Crown has decided not to pursue an assault charge against a Surrey RCMP officer accused of hurting a woman during a traffic stop. Const. Imran Saeed, 31, was charged following the Feb. 12, 2009 incident. The stay was entered Monday in B.C. Provincial Court in Surrey, which was to be the first day of his trial.

It was alleged that Saeed pulled over Trina Westad near her Surrey home and ordered her out of her car. When she asked why, he allegedly pulled her out of her vehicle and slammed her on the ground, causing a variety of injuries. It’s the second time in a week that charges have been stayed against Saeed.

On June 4, B.C. Provincial Court Judge Roy Dickey stayed two assault charges because Saeed’s right to a timely trial was violated. It was alleged that Saeed assaulted Christopher Gilmore and Christopher Stojak when he responded to a domestic disturbance call on May 19, 2009.

During arguments, defence lawyer Maegan Richards blamed much of the 30-month delay on a second investigation conducted by RCMP shortly before the case was set to go to trial last summer. The trial was rescheduled for May. Richards said the re-investigation duplicated the work that was initially done before Saeed was charged in November 2009. It appears that both cases were dropped because of delays affecting the acused’s right to a speedy trail. Yet the foul stanch of injustice is overpowering. The first case started in Surrey but was dropped in Chilliwack. Why on earth was it transferred to Chilliwack?

The second case is most disturbing. The right to a speedy trail is one thing but a victims right for justice is another. These two bad decisions have overruled the victim’s right to justice. It wasn’t there fault the case was delayed. The bizarre part is that the second most outrageous case wasn’t stayed by a judge. The Crown decided not to pursue the case in the event the judge might drop it. That is absurd and offensive. That case should proceed in the courts. The Crown should be sued for civil liability.

More local shootings

There’s been a few more local shootings and another relevant one in Oshawa.

A man was shot yesterday morning at the 10600-block of 135A street in Surrey.

Saturday night a man was shot 9100-block of 147 A St in Surrey. Suspects were taken into custody.

A 17 year old was shot in south Van south and east of 41st and Victoria Drive Tuesday morning. Police say it was targeted.

Kim Bolan is better with all the breaking news about all the local shootings. As we’ve found out, the police don’t always tell us about local shootings if there was no fatality involved. One of those shootings Kim reported from a police scanner. The South Van shooting also had ties to Surrey.

A North Vancouver man with gang links named Kamran Ahmadbeigi has been gunned down outside a house in Oshawa, Ontario on May 25. Kim Bolan is reporting that he was with a smaller group affiliated with the UN and was targeted within 24 hours of arriving in Ontario. We know the Hells Angels had a clubhouse seized in Oshawa but I’m told they still have a presence there.

Kingpin Crew's fruit stand over turned

Speaking of losers from the Pinhead crew, reports are coming in that last weekend Hells angels showed up at the pinheads fruit stand and kicked their ass. Seemingly one of the pinheads were dating a Hells angels ex. It is said that Dale knew about it ahead of time and left so they could do it when he wasn't around. What a slime ball weasel. How can you be finger puppets for a loser like that? Have you no self respect? Sounds like club discipline not revoking their support for the puppets. More like the puppets will have to pay more protection money so they don't have another accident like that again. L & R bitches.

David Cameron Waffles on ties to Murdock

This is rather amusing. I’m watching the news today and I hear the headline British Government admits close ties with Murdock. Then they go to a clip of David Cameron who admits that there were close ties but he doesn’t see transparency as to who did what to whom as being productive. Of course not. It could mean your ass goes to jail. I’m going to have to look for the clip but here’s a few links to set the stage:

David Cameron to testify about ties to Murdoch

David Cameron has faced criticism for the way his government handled Murdoch's bid to take full control of British Sky Broadcasting. His ties to Murdoch have also been questioned because he hired former News of the World editor Andy Coulson as his communications chief. Coulson has since been charged in the phone hacking scandal.

David Cameron denies deals but defends Christmas with James Murdoch

On 10 September 2009, James Murdoch used an informal drinks with the then Leader of the Opposition to reveal that The Sun would be switching its allegiance back from Labour to the Tories. Yet Cameron insists there were no "inappropriate conversations" over his Christmas dinner with James Murdoch. However, James Murdoch admitted they did discuss the bid over dinner.

Murdoch’s UK chief to Cameron: 'We’re in this together'

Blair admits being too close to Murdoch

Blair, who is godfather to one of Rupert Murdoch’s children, was asked about his close relationship with the media baron whose tabloid The Sun — Britain’s top-selling newspaper - gave Blair its backing. He said he had taken care to court the press because if media groups had turned against him, it would have been a "huge and sustained attack". Robert Murdock stated “If our flirtation is ever consummated Tony then I suspect we will end up making love like porcupines, very, very carefully,” he told him.

Former British foreign secretary says ties between politicians and press became 'incestuous'

Britain's former foreign secretary says that ties between the country's politicians and the media had become uncomfortably close when Tony Blair was in power. Jack Straw, who served in several senior positions in Blair's government, said Wednesday that ties had been "sometimes incestuous."

Who is Rupert Murdoch?

Rupert Murdoch is a media baron in the UK like unto CONrad Black. James would be Robert's son. Turns out “one” of his tabloids were caught phone hacking to get the inside scoop on certain stories. They even had members of the royal family bugged. I said at the time there’s no way they could have done that without MI6’s help. After the scandal broke and scape goats were selected, it turned out that the police or shall we say “retired” police were involved in setting up the phone hacking for the tabloid. Then the news broke that the British government was in on it. Now David Cameron has been called to waffle on the stand at the inquiry.

Why is this relevant?

This is relevant because it show how politicians, Scotland Yard and the media teamed up to perform warrantless surveillance. Just like George Bush introduced in the US with the NSA warrantless wiretaps. Just like George bush introduced with his Un Patriot Act. Just like Barack Obama introduced with the NDDA.



What I find so amusing is how a media baron can support Tony Blair then change and support David Cameron. Switching allegiances isn't what’s surprising. What’s surprising is the newspaper adopted a candidate then published stories biased toward that candidate to promote them. We always thought newspapers just repport the news. That’s not necessarily true. Many news outlets have political biases and publish those biases in the form of propaganda. It’s not a matter of getting rid of the Conservatives or getting rid of Labour. It’s a matter of both parties cleaning house and getting rid of the corruption. That is the biggest challenge we face.

Kingpin Crew and the Lost Souls sighted in Kamloops

Two members of the pinheads were seen with a couple members of the Lost Souls hanging around a tattoo parlor in Kamloops on the North Shore this week. I guess they were getting their new L tattoos for their forehead. Finger puppets for Dale the drag queen, you can’t get any lower than that. They’re lost souls all right.

Speaking of Kamloops, today in the news they claim two mutilated cats were found in the city earlier this month just like in Maple Ridge where two men were spotted around the same time a decapitated cat’s head was dropped off at an elementary school during school hours. That is seriously messed up. What do Kamloops and Maple Ridge have in common? I’m sure it’s just another bizarre coincidence.

Speaking of psychopaths, the police have reported that the human hand and foot sent to two Vancouver schools were from the same victim killed in Montreal by the whack job who sent other body parts to the conservative headquarters in Ottawa. The deranged wave sweeps on by.

21 Arrests in North and South Carolina Hells Angels

21 individuals were arrested earlier this month after the return of a 91-count indictment charging members and associates of the Rock Hell City Nomad Chapter of the Hells Angels with racketeering, narcotics violations, money laundering and firearm violations.

The arrest warrants were served along with the execution of 23 search warrants in North and South Carolina. During today’s operation, law enforcement seized methamphatamine, cocaine, marijuana, pills, and approximately 100 firearms, including two automatic machine guns.

Rather Outspoken

CTV News just ran a stunning interview with Dan Rather about his new book Rather Outspoken. As we know Dan Rather is a very credible and well establish news reporter who was fired for reporting a true story about how George Bush got an elite assignment within the National Guard because of his father’s influence instead of going to Vietnam. On top of that he didn’t show up for a year. I remember the segment well. I was shocked at Dan Rather’s termination.

In today’s interview he points out that everything in the report was true. When asked what his most profound news story he covered in his career he replied it was covering Dr. Martin Luther king and the civil rights movement. He said it moved him and transformed him. What a great man. Lest we forget a credible new reporter was fired for reporting a true story. It reminds me of the Dixie Chicks documentary Shut up and Sing.

Young Humpback Whale dies on White rock beach

It’s not every day you see a whale on White rock beach. At high tide the water isn’t very deep there. We’re used to seeing crabs and clams but not whales let alone a humpback wale. Today a juvenile humpback whale was beached in White rock but despite community concern died shortly thereafter. It was tangled and cut from fishing nets.

II realize this has nothing to do with gangs but it does has something to do with the environment and sustainability. It’s very dramatic when a young whale dies right on the beach in public view. Yet how many die in the ocean unnoticed. It’s like buying tuna that’s dolphin friendly. Bottom trolling drift nets that clear cut the ocean are still a huge concern. They take everything including coral and leave a barren wasteland in it’s wake and contribute to the ocean’s dead zones. Significant because we get most of out oxygen from the ocean not from the forests.