Sanjay Shah

2022 - 6 - 3

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Image courtesy of "The National"

Dubai Police arrest hedge fund trader Sanjay Shah over $1.7bn ... (The National)

British financier previously denied charges and said he was working within Danish law.

" Dubai Police said the arrest came after the signing of an agreement in March allowing for extradition between the UAE and Denmark. Maj Gen Khalil Al Mansouri, assistant commander-in-chief for Criminal Investigation Affairs, said a Dubai Police task force, with the help of information from Danish authorities, gathered evidence and tracked Mr Shah's movements and whereabouts.

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Image courtesy of "Gulf News"

Dubai Police arrest Sanjay Shah over the biggest $1.7b of tax fraud ... (Gulf News)

Dubai Police received red alert about Shah, he will be handed over to Danish authorities.

Brigadier Jamal Al Jallaf, Director of the Criminal Investigation Department in Dubai Police, said Shah, along with others, were facing charges of dividend-tax fraud and money laundering. Shah was charged with defrauding Danish tax authorities of multi-billion dollars through the ‘cum-ex’ trading schemes. Shah established multiple shell companies to claim tax refunds. A global network of bankers, lawyers and agents illegally sought refunds on dividend taxes they never paid, on stocks they never owned. According to Dubai Police, the international arrest warrant was received from Danish authorities through the Ministry of Justice, represented by the Department of International Cooperation and Dubai’s Public Prosecution. Shah was the main suspect in a tax fraud case in Denmark worth 12 billion Danish kroner ($1.7 billion). According to Dubai Police, British national Shah was arrested in Dubai over $1.7 billion (Dh6.2 billion) of tax fraud and money laundering cases in Denmark.

Dubai arrests British man over $1.7B Denmark tax fraud case (San Francisco Chronicle)

DUBAI, United Arab Emirates (AP) — Dubai police said Friday they arrested and planned...

Danish authorities say the scheme ran for some three years beginning in 2012. The hedge fund manager had run a center for autistic children in Dubai that shut down in 2020 amid the attempts by Denmark to extradite him. He also ran the British-based charity Autism Rocks, which put on shows by major performers to raise money.

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Image courtesy of "Bloomberg"

Hedge-Fund Trader Facing Danish Tax Fraud Charges Arrested in ... (Bloomberg)

Hedge-fund trader Sanjay Shah was arrested in Dubai this week for possible extradition to Denmark, where Shah faces charges in connection with a $1.9 ...

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Image courtesy of "Reuters"

British suspect in Danish 'cum-ex' fraud case arrested in Dubai (Reuters)

The main suspect in a Danish dividend tax fraud case, Sanjay Shah, has been arrested in Dubai, Denmark's justice ministry said in a statement on Friday, ...

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Image courtesy of "Metro"

British man arrested in Dubai over $1300000000 tax fraud case (Metro)

Sanjay Shah, 52, is wanted in Denmark over fraud allegations which saw the Danish treasury cheated out of a 'staggering amount' of cash.

Shah ran a centre for autistic children in Dubai which was closed down in 2020 in the wake of Denmark’s bid to extradite him. He is said to be the ‘mastermind’ behind a scam involving foreign businesses pretending to own shares in Danish companies – before claiming tax refunds for which they were not eligible. Shah was detained after Denmark signed an agreement in March to allow for extradition to and from the United Arab Emirates.

Dubai arrests British man over $1.7B Denmark tax fraud case (Midland Daily News)

DUBAI, United Arab Emirates (AP) — Dubai police said Friday they arrested and planned...

Danish authorities say the scheme ran for some three years beginning in 2012. The hedge fund manager had run a center for autistic children in Dubai that shut down in 2020 amid the attempts by Denmark to extradite him. He also ran the British-based charity Autism Rocks, which put on shows by major performers to raise money.

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Image courtesy of "The Washington Post"

Dubai arrests British man over $1.7B Denmark tax fraud case (The Washington Post)

Dubai police say they have arrested and plan to extradite a British man wanted in Denmark over a $1.7 billion tax fraud case.

Danish authorities say the scheme ran for some three years beginning in 2012. The hedge fund manager had run a center for autistic children in Dubai that shut down in 2020 amid the attempts by Denmark to extradite him. He also ran the British-based charity Autism Rocks, which put on shows by major performers to raise money.

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Image courtesy of "Aljazeera.com"

Dubai police arrest British suspect in $1.7bn Danish fraud case (Aljazeera.com)

Arrest of Sanjay Shah made possible after Denmark signed an extradition treaty with the United Arab Emirates in March.

It was not immediately clear if Shah had a local lawyer in the Emirates. In a statement, Dubai police Brigadier General Jamal al-Jallaf said that the emirate received an international arrest warrant from Denmark for Shah, who is accused of a fraud that saw foreign businesses pretend to own shares in Danish companies and claim tax refunds for which they were not eligible. Dubai Police confirmed the arrest in a tweet on Friday, in which it said the aim was to extradite Shah for prosecution in Denmark.

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Image courtesy of "The New York Times"

A financier suspected in a nearly $2 billion Danish tax fraud is ... (The New York Times)

Prosecutors believe Sanjay Shah was behind an elaborate scheme to cheat the Danish tax system.

The Danish foreign minister, Jeppe Kofod, tweeted on Friday that the country “will push for extradition as soon as possible.” Mr. Shah has said that he simply took advantage of loopholes in the Danish tax system and never broke any laws. “This arrest sends a very strong signal that the Danish authorities are pursuing financial fraud,” said Jeppe Bruus Christensen, the minister of taxation, “no matter where in the world you are.” The London-born financier suspected of masterminding an elaborate scheme to bilk the Danish tax system of $1.9 billion has been arrested by police in Dubai for possible extradition to Denmark, authorities in Copenhagen said Friday. Sanjay Shah, the financier, had been sought by Danish authorities for what they said was his role in thousands of transactions that involved traders, lawyers and investors across Europe and the United States. Starting in 2012 and ending three years later, these transactions — which were so complicated that they baffled even some financial experts — led Denmark’s tax agency to send nearly $2 billion worth of refunds for taxes that had putatively been paid on stock dividends. Prosecutors believe Sanjay Shah was behind an elaborate scheme to cheat the Danish tax system.

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Image courtesy of "Sky News"

British man arrested in Dubai over £1.3bn tax fraud case and faces ... (Sky News)

Sanjay Shah is accused of a fraud that allegedly saw foreign businesses pretend to own shares in Danish companies and claim tax refunds for which they were ...

Brig Gen Al Jallaf said in a statement that Shah was accused of a fraud that allegedly saw foreign businesses pretend to own shares in Danish companies and claim tax refunds for which they were not eligible. Shah is one of several suspects in the tax scheme sought by Danish authorities, described as one of the largest fraud cases in the country's history. Sanjay Shah is accused of a fraud that allegedly saw foreign businesses pretend to own shares in Danish companies and claim tax refunds for which they were not eligible.

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