{"id":26711,"date":"2023-12-06T07:07:03","date_gmt":"2023-12-06T12:07:03","guid":{"rendered":"https:\/\/worldjusticenews.com\/news\/?p=26711"},"modified":"2023-12-06T07:09:58","modified_gmt":"2023-12-06T12:09:58","slug":"uae-extradites-british-trader-sanjay-shah-to-denmark","status":"publish","type":"post","link":"https:\/\/worldjusticenews.com\/news\/2023\/12\/06\/uae-extradites-british-trader-sanjay-shah-to-denmark\/","title":{"rendered":"UAE extradites British trader Sanjay Shah to Denmark"},"content":{"rendered":"
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The United Arab Emirates (UAE) has extradited British trader Sanjay Shah to Denmark over tax fraud charges worth \u00a31.46bn, his lawyers say.<\/b><\/p>\n<\/div>\n<\/div>\n

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Mr Shah, who lives in Dubai, is accused of participating in fraudulent share trading schemes.<\/p>\n<\/div>\n<\/div>\n

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He was arrested by Dubai police last year following the Danish investigation into Solo Capital, a hedge fund that he founded.<\/p>\n<\/div>\n<\/div>\n

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Mr Shah denies the charges and insists that the trades were legal.<\/p>\n<\/div>\n<\/div>\n

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Denmark is one of the countries hardest hit by so-called “cum-ex” schemes, although they also flourished in Germany and Belgium. The scam involved rapidly selling shares between investors in order to create confusion over who owned the shares at the time a dividend was paid out.<\/p>\n<\/div>\n<\/div>\n

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Tax on the dividends was subsequently reclaimed by multiple parties, although it was only paid once.<\/p>\n<\/div>\n<\/div>\n

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