Abu Dhabi: The authorities in the United Arab Emirates (UAE) extradited British citizen of Indian origin Sanjay Shah to Denmark on Wednesday, December 6, for trial over an alleged 1.8 billion dollar (Rs 1,49,96,52,00,000) tax fraud.
53-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.
In 2022, he was arrested in Dubai and is among several suspects being sought in connection with a tax scam.
At that time, Shah denied any wrongdoing and defended his innocence, as reported by media in the UAE.
In September this year, he was ordered to pay 1.25 billion dollars to Denmark’s tax authority in a civil case in Dubai.
Shah was extradited to Denmark’s security mission following legal procedures, a decision by the Dubai Court of Cassation and approval from the UAE Minister of Justice, the Emirates News Agency (WAM) reported.
The decision is also in line with the applicable bilateral agreement between the two countries, signed in March 2022, about extraditing criminals.
The UAE’s security, judicial, financial, and law enforcement authorities are actively working to combat organized crime through international cooperation with partners.
UAE entities are adhering to international standards to combat money laundering and terrorism financing, implementing efficient systems and legal frameworks that uphold justice principles.
