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Sanjay Shah, 52, is wanted in Denmark over a $1.7 billion dividend tax fraud case.

PHOTO BY DUBAI POLICE/EXPAT MEDIA


Wanted in Denmark: biggest tax fraud suspect Sanjay Shah arrested in Dubai

 

The British tax fraud suspect who is wanted in Denmark over a $1.7 billion dividend tax fraud case has been arrested in Dubai and identified as Sanjay Shah.

The tax fraud case is the biggest in Denmark to date. According to Dubai Police, Shah’s arrest follows close cooperation between Danish and Emirati authorities.

Shah will be handed over to Danish authorities after he faces the Public Prosecution in Dubai and an extradition warrant is issued.

Lieutenant General Abdullah Khalifa Al Marri, Commander-in-Chief of Dubai Police, said that a team from the Criminal Investigation Department (CID) tracked down the 52-year-old Shah.

Police said Shah is wanted by Danish authorities for being involved in a scheme in which foreign businesses pretended to own shares in Danish companies and falsely claim tax refunds.

The fraud scheme, known as “cum-ex” trading, involved submitting more 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, according to Dubai Police. ICA/Expat Media


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