Dubai police detain Danish fraudster in $1.7bn tax scheme

Dubai police have arrested and plan to repatriate a Britisher wanted in Denmark for fraud of around a $1.7bn tax scheme, one of the largest-ever fraud cases.

Dubai police have arrested and plan to repatriate a Britisher wanted in Denmark for fraud of around a $1.7bn tax scheme, one of the largest-ever fraud cases.

The detention of Sanjay Shah, aged 52, a hedge fund trader, came after Danish officials signed a pact in March enabling extradition between the Denmark and UAE.

Advertisement

Dubai Police has confirmed his arrest through a tweet on Friday, 3 June, in which it stated that the goal was to extradite Shah for prosecution in Denmark.

Dubai police Brigadier General Jamal al-Jallaf said in a statement that the emirate got an international arrest warrant from Denmark for Shah, who is charged with a fraud of witnessing foreign businesses pretend to hold shares in Danish companies and claiming tax refunds for which they were not entitled.

Al-Jallaf said, “The fraud scheme, also known as ‘cum-ex’ trading, consisted submitting several of applications to the Danish Treasury on behalf of companies and investors from many nations around the world in order to get dividend tax refunds.”

The officials of Denmark said the scheme ran for some three years starting in 2012.

Shah has always been always been pretending to be innocent in interviews with journalists while residing in Dubai in the past few years but has never appeared in his home country, Denmark, to answer the accusations. It was not clear yet if he had a local lawyer in the Emirates.

A court date has not been immediately set in Dubai, and prosecutors have also not responded to a request for comment on 3 June.

Advertisement

In a joint statement given by Denmark’s justice and foreign ministries commended Dubai’s arrest of Shah, who was described as a target of the country’s prosecutors since 2015.

Shah is one of many accused in the tax scheme sought by Danish authorities.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Read More

UAE’s starts distributing food in 4 nations under One Billion Meals initiative

United Arab Emirates has already commenced distributing food essentials to the needy people in countries such as - Lebanon, India, Jordan, Tajikistan, & Kyrgyzstan, under its "One Billion Meals initiative." 

UAE Doctors appeals parents to keep away children from batteries and magnets following notable rise in such cases

Doctors of the United Arab Emirates, in an appeal to the parents, asked them to keep their children away from magnets and button batteries. This request of the Doctors came after a number of children for ingesting or choking on the aforementioned objects. 

Dubai Police set to organize World Police Summit Awards, including seven categories of Awards

The World Police Summit Awards are set to be launched; as per the information shared on the official page of Dubai Police on Facebook, the Summit is yet to be organized under the patronage of Mohammed bin Rashid Al Maktoum Vice President and Prime Minister of United Arab Emirates.

Recent

Deputy PM Ernest Hilaire urges Saint Lucians to keep striving for better future

Saint Lucia: Deputy Prime Minister of Saint Lucia, Ernest Hilaire, extended his heartiest greeting and best wishes to the country's people through his recent official social media post while approaching the coming weekend, following the ongoing celebrations of the forty-fourth (44th) Independence Anniversary of Saint Lucia.   

Israel strikes another Syrian port this month, reports media

The Israeli military launched an air raid on the Syrian port of Latakia on Tuesday, setting fire to a container storage area and damaging...

Sheikh Mansoor announced restructuring boards of directors of Al Jazira Sports and Cultural Club

President of Al Jazira Sports and Cultural Club and Vice Chairman of the Club's Honor Council, Deputy Prime Minister of the United Arab Emirates and Minister of Presidential Affairs, His Highness Sheikh Mansour bin Zayed Al Nahyan issued directives to restructure the boards of directors of the Al Jazira Sports and Cultural Club, the club's subsidiaries as well as Committee of the Board of Directors.