Pax's directors are Mr. Hammond and a West Vancouver resident, Miodrag Andric. The two men are past associates of fugitive Thai financier Rakesh Saxena. In 1996, Mr. Hammond was the president of Asean Holdings Inc., a Vancouver Stock Exchange company that had Mr. Saxena as one of its largest shareholders. In July, 1996, when police arrested Mr. Saxena for allegedly defrauding the Bangkok Bank of Commerce of $88-million, Mr. Hammond was among those seated with Mr. Saxena's wife in court during his first appearance. Both men worked for West Shore Ventures Ltd., a private company run by Mr. Saxena.
In 1996, police charged Mr. Hammond with obstruction of justice in connection with the case against Mr. Saxena, but the charges were later dropped after Mr. Hammond testified against Mr. Saxena in court. In that testimony, he told the judge that he had created a web of companies for the Thai financier that were part of a global shell game. He had used registries of convenience from the Yukon to the Cayman Islands, he said.
