Dubai police stated Friday they arrested and deliberate to extradite a British man needed in Denmark over a $1.7 billion tax fraud case.
Dubai police recognized the man as Sanjay Shah and stated his arrest got here after Denmark signed an settlement in March permitting for extradition between the United Arab Emirates and Denmark.
Shah has maintained his innocence whereas dwelling in Dubai over the previous few years. It wasn’t instantly clear if Shah, 52, had a neighborhood lawyer within the Emirates. A courtroom date didn’t seem to have been instantly set in Dubai, the business capital of the seven-sheikhdom federation of the UAE. Prosecutors didn’t instantly reply to a request for touch upon Friday, the beginning of the Emirati weekend.
In an announcement, Dubai police Brig. Gen. Jamal Al Jallaf stated the emirate obtained a world arrest warrant from Denmark for Shah. Al Jallaf stated Shah was accused of a fraud that noticed international companies fake to personal shares in Danish firms and declare tax refunds for which they weren’t eligible.
“The fraud scheme, known as ‘cum-ex’ trading, involved submitting thousands of applications to the Danish Treasury on behalf of investors and companies from several countries around the world in order to receive dividend tax refunds,” Al Jallaf stated.
In a joint assertion, Denmark’s Justice and Foreign Ministries praised Dubai’s arrest of Shah, whom they described had been a goal of the nation’s prosecutors since 2015.
“The Danish Treasury has been cheated for a staggering amount, and of course it should not be possible for suspected perpetrators to hide in the Middle East and thus avoid being held accountable in a Danish courtroom,” Justice Minister Mattias Tesfaye stated.
“Now I am awaiting the legal process in the United Arab Emirates, and crossing my fingers that it will end up that we can get Sanjay Shah on a plane to Denmark, so he can be prosecuted in this country.”