By COPENHAGEN, Denmark – A Dubai-based British hedge fund trader has been extradited from the United Arab Emirates to Denmark to face charges of orchestrating a $1.7 billion tax fraud, deemed as one of the largest in the history of the Scandinavian country.
Sanjay Shah, a prominent financier, was convicted in May in Dubai for his involvement in a scheme that spanned from 2012 to 2015. The fraudulent operation involved foreign businesses falsely claiming ownership of shares in Danish companies in order to fraudulently obtain tax refunds they were not entitled to. Shah’s extradition to Denmark was approved by a court in the United Arab Emirates.
According to Danish media reports, Shah arrived in Copenhagen on an early morning flight from Dubai. The Danish Justice Ministry stated that Danish police officers had traveled to Dubai to escort him back to Denmark.
Danish Taxation Minister Jeppe Bruus highlighted the significance of this case, stating, “We cannot, as a society, tolerate the exposure of our state treasury to such fraudulent activities. This stands as one of the most significant criminal fraud cases in Danish history.”
Danish Foreign Minister Lars Løkke Rasmussen underscored the importance of this extradition, remarking that it sends a clear message that individuals cannot evade accountability by fleeing abroad.
Fair Trial Concerns for Shah
Shah, a key figure in a billion-dollar case, maintains his innocence and doubts his chances of receiving a fair trial in Denmark, according to his British lawyer, Chris Waters. Shah’s Danish lawyer, Kåre Pihlmann, echoed these concerns and stated that they need to carefully review the extensive case file, consisting of over 300,000 pages, before strategizing their defense.
Despite the allegations against Shah, Justice Minister Peter Hummelgaard emphasized that Shah is innocent until proven guilty. However, due to the sheer magnitude of the case, it has garnered significant attention.
During his return to Denmark from the U.N. climate conference in Dubai, Bruus, who was initially intended to be on the same flight, had to give up his seat to Shah, who is considered the main suspect.
Additionally, Justice Minister Peter Hummelgaard revealed that as part of a separate agreement with the United Arab Emirates, Denmark will also seek the extradition of an individual wanted for the 2019 killing of a police officer. The suspect led officers on a high-speed car chase through central Copenhagen before apprehension.
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