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British financier Sanjay Shah going through fees over $1.7bn fraud extradited to Denmark from UAE | World Information

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A Dubai-based British hedge fund dealer accused of orchestrating a $1.7bn (£1.34bn) tax fraud has been extradited to Denmark.

Financier Sanjay Shah was convicted in Might within the United Arab Emirates of masterminding a scheme during which overseas companies pretended to personal shares in Danish firms and claimed tax refunds for which they weren’t eligible.

The alleged fraudulent scheme ran from 2012 to 2015.

Danish taxation minister Jeppe Bruus stated: “It goes with out saying that we as a society can not settle for that our state treasury is uncovered to it.”

He referred to as it “one of many greatest felony fraud {cases} in Danish historical past”.

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Overseas minister Lars Lokke Rasmussen added Denmark was “sending an vital sign that you just can not obtain impunity by staying overseas”.

Shah’s British lawyer, Chris Waters, instructed Danish broadcaster TV2 that his shopper denies any wrongdoing and “continues to doubt that he can obtain a good trial in Denmark”.

His Danish lawyer, Kare Pihlmann, instructed TV2 they wanted to learn the case file of greater than 300,000 pages earlier than deciding on their line of defence.

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On Wednesday, Danish cops travelled to Dubai to choose up Shah, officers stated.

As soon as on Danish soil, he’ll formally be arrested and Denmark’s prosecution authority will request he’s remanded in custody.

A trial in Copenhagen has been set for 8 January.



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