British Hedge Fund Trader Sanjay Shah Extradited to Denmark Over $1.7 Billion Tax Fraud

Shah, accused of orchestrating one of Denmark's largest criminal fraud cases, denies any wrongdoing and is set to appear in court on January 8.

Sanjay Shah, a British hedge fund trader, has been extradited from the United Arab Emirates to Denmark to face charges over a $1.7 billion tax fraud scheme.
The alleged fraud, known as 'cum-ex' trades, involved foreign businesses pretending to own shares in Danish companies and claiming tax refunds for which they were not eligible.
The scheme, which ran from 2012 to 2015, is considered one of the largest criminal fraud cases in Danish history.
Shah, who denies any wrongdoing, is expected to appear in court on January 8 for his trial.
Denmark's Justice Minister, Peter Hummelgaard, emphasized that Shah is innocent until proven guilty, but noted that being the main suspect in a case worth billions attracts attention.