A Briton wanted in Denmark over a £1.3billion tax case has been arrested in Dubai and now faces extradition.
The arrest of hedge fund trader Sanjay Shah in one of Denmark’s biggest-ever fraud cases comes after the country signed a deal in March allowing extradition from the United Arab Emirates.
The 52-year-old has maintained his innocence in interviews with journalists while living in Dubai on the city-state’s artificial Palm Jumeirah archipelago in recent years, but has never appeared in Denmark to face the claims.
“We will press for extradition as soon as possible,” Danish Foreign Minister Jeppe Kofod said in a tweet.
It was not immediately clear if Shah had a local lawyer in the UAE.
In Dubai, the commercial capital of the Federation of the Seven Sheikhdoms of the United Arab Emirates, no court date appears to have been set and prosecutors have not immediately responded to a request for comment.
It comes after the Danish tax authority won an appeal in UK courts after a judge previously ruled to turn down a request to hear the case in the UK on the grounds that it was not the right place to make a foreign tax claim .
A spokesman once connected to Shah, who ran Solo Capital Partners, did not immediately respond to a request for comment on the latest development.
Shah had run a center for autistic children in Dubai, which closed in 2020 when Denmark tried to extradite him.
He also ran the UK-based charity Autism Rocks, which raises money by organizing shows by major artists.
Dubai Police Brigadier General Jamal Al Jallaf said the emirate had received an international arrest warrant for Shah from Denmark.
Brigadier General Al Jallaf said in a statement that Shah was accused of a fraud allegedly involving foreign companies pretending to own shares in Danish companies and demanding tax refunds they were not entitled to.
“The fraud scheme, known as ‘cum-ex’ trading, involved submitting thousands of applications to the Danish Treasury on behalf of investors and companies from multiple countries around the world seeking dividend tax refunds,” Brigadier General Al Jallaf said .
According to Danish authorities, the program ran for about three years as of 2012.
Denmark’s justice and foreign ministries praised Dubai’s arrest of the shah, whom they described in a joint statement as a target of the country’s prosecutors since 2015.
Shah is one of several suspects in a tax system wanted by Danish authorities, which has been described as one of the biggest fraud cases in the country’s history.
Briton arrested in Dubai on £1.3billion tax fraud charges and faces extradition to Denmark | world news
Source link Briton arrested in Dubai on £1.3billion tax fraud charges and faces extradition to Denmark | world news