Brief by Shorts91 Newsdesk / 09:42am on 13 Dec 2024,Friday India Global
Sanjay Shah, a 54-year-old Indian-origin British hedge fund trader, was sentenced to 12 years in prison by a Danish court for orchestrating a $1.2 billion tax fraud. Shah masterminded a "cum-ex" scheme, fraudulently claiming $1.27 billion in dividend tax refunds between 2012-2015. The court also seized $1 billion of his assets, including properties. Shah, who was arrested in Dubai in 2022 and extradited to Denmark, has appealed to the Danish High Court. He also faces a $1.83 billion civil tax fraud case in London, set to conclude in April 2025.
