Sanjay Shah
Abu Dhabi: A Dubai Court of Cassation has rejected the final appeal of British citizen of Indian origin Sanjay Shah, against a civil lawsuit ordering him to pay Denmark’s tax authority 4.6 billion Dirhams (1.25 billion dollars), local media reported.
Dubai court issued a final ruling on Tuesday, that Sanjay Shah, must pay the amount to Denmark plus 5 percent interest interest accrued from when the case was first lodged in August 2018, according to a copy of the ruling seen by AFP on Wednesday.
52-year-old Shah, the British hedge-fund trader, was accused of running the scheme for three years from 2012, during which foreign companies pretended to own shares in Danish companies and demanded repayments.
An international warrant for his arrest was received by Dubai Police on January 7, 2022, and he was arrested five months later in the UAE’s Al Rafaa district.
As per media reports, Shah claimed his innocence and said he did not violate Danish law.
His case went through several court instances. UAE said in April that the process to extradite him to Denmark had begun.
This post was last modified on May 18, 2023 9:28 pm