British man arrested in Dubai for £1.3 billion tax fraud and faces extradition to Denmark | World News
A British man wanted in Denmark over £1.3 billion in taxes has been arrested in Dubai and now faces extradition.
The arrest of hedge fund trader Sanjay Shah, one of Denmark’s biggest-ever scams, comes after the country signed an agreement in March to allow extraditions from the United States. United Arab Emirates.
The 52-year-old has kept his chastity in interviews with journalists while living in Dubai in recent years on the city’s man-made Palm Jumeirah archipelago, but has never appeared in the city. Denmark to face the claims.
“We will push for extradition as soon as possible,” Danish Foreign Minister Jeppe Kofod said in a tweet.
It is not yet clear if Shah has a local attorney in the UAE.
So far, no court date appears to have been set in Dubai, the commercial capital of the UAE’s seven-territory federation, and prosecutors did not immediately respond to a request for comment.
It comes after Denmark’s tax authorities won an appeal in UK courts, following an earlier decision by a judge rejecting a request to hear a case in the UK on the grounds that it was not the case. appropriate place to make a foreign tax claim.
A spokesman formerly associated with Shah, who runs Solo Capital Partners, did not immediately respond to a request for comment on the latest developments.
Shah ran a center for autistic children in Dubai, which closed in 2020 amid efforts by Denmark to extradite him.
He also runs the UK-based charity Autism Rocks, which raises funds through arranging performances by key performers.
Brigadier General Jamal Al Jallaf of Dubai police said the emirate had received an international arrest warrant from Denmark for the Shah.
Brig Gen Al Jallaf said in a statement that Shah was accused of fraud by allegedly witnessing foreign businesses pretending to own shares in Danish companies and demanding tax refunds that they did not have enough of. condition.
“The fraudulent scheme, known as ‘concurrent’ trading, involved sending thousands of applications to the Danish Treasury on behalf of investors and companies from several countries around the world to received a dividend tax refund,” said Brig Gen Al Jallaf.
Danish authorities say the scheme has been in the works for about three years since 2012.
The Danish Ministry of Justice and Foreign Affairs praised Dubai’s arrest of the Shah, who they described in a joint statement as the target of Danish prosecutors since 2015.
Shah is one of several tax scheme suspects wanted by Danish authorities, described as one of the biggest frauds in the country’s history.
