Early Years
Rakesh Saxena studied in India at St. Stephen's College and in Britain. He graduated with a Master of Arts degree in English Literature. He worked in a foreign exchange and money market brokerage company, where he concentrated on complex financial transactions and foreign exchange speculation, first in Delhi, Bombay, Sri Lanka and Singapore, and then for the Oriental Bank of Commerce in Delhi, before the Indian government nationalized it.
In the mid-1970s, Saxena moved to Hong Kong, where he met his wife, a Thai national. In Hong Kong, he first worked as a foreign exchange dealer in Kowloon, and then joined Wocom Commodities. He moved his base to Bangkok in 1985 where the Bank of Thailand had announced the opening up of the forex markets. He then shifted focus to the derivatives arena.
In Bangkok, Saxena dealt in speculation on buying and selling companies and wrote a financial column in the Bangkok Post, spoke in seminars of foreign exchange trading and formed numerous contacts in the business community. Among his interests were mines in Sierra Leone, companies in Australia, Belize, Canada, Cayman Islands, Russia, Thailand, Hong Kong, Israel, Cyprus and the Virgin Islands, and a number of Swiss bank accounts.
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