British hedge fund trader, who once stayed in the Palm Jumeirah, has been handed over to Danish officials, UAE says.
Extradition Confirmation: Sanjay Shah Faces Trial in Denmark
British hedge fund trader Sanjay Shah’s extradition from the UAE to Denmark has been officially confirmed, marking a significant development in the case involving an alleged $1.7 billion tax fraud.
Accusations of Tax Fraud Scheme
Shah, a resident of The Palm Jumeirah in the UAE, stands accused of masterminding a scheme wherein foreign businesses falsely claimed ownership of shares in Danish companies.
These businesses allegedly used this false ownership to illegitimately claim tax refunds, a practice for which they were ineligible.
Denial of Charges Amidst Legal Dispute
Despite the serious allegations, Shah has consistently denied any wrongdoing, maintaining that his actions were conducted in accordance with Danish laws.
Emirati Authorities’ Statement on Extradition
In an official statement released through the state news agency Wam, Emirati authorities confirmed the handover of Sanjay Shah, a British national, to Danish judicial authorities. The extradition is part of the ongoing legal proceedings pertaining to the tax fraud and money laundering case.
