Rakesh Saxena

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Rakesh Saxena is an Indian banker, who, while in exile in Canada approached Tim Spicer of Sandline International to discuss aiding President Ahmed Kabbah's return to power in Sierra Leone.

Spicer says of the initial encounter: "Saxena's interest was mineral concessions, but his approach put us on the spot, for we work for governments, not businessmen."[http:freespace.virgin.net/ambrose.ganda/Corruption_story_goes_on.html]

At the time, Saxena was head of the Vancouver based Tidewater Management Corporation, held bauxite concessions in West Africa and was also wanted in Thailand for charges of embezzelling up to $2 billion (figures vary from as low as $88 million) from the country's Bangkok Bank of Commerce. He made an initial payment of $1.5 million before he was arrested by Canadian authorities for having a fake passport. [1]

Sandline's international chairman at the time was Anthony Buckingham who was a major shareholder in Diamond Works Ltd., a diamond company with six mines in Sierra Leone. He is also a founder of Executive Outcomes. Perhaps this is what prompted Saxena to pay Spicer a $70,000 consulting fee to prepare an appraisal of the situation in Sierra Leone. [2] [3]