British Man Wanted in $1.7B Denmark Tax Fraud and Money Laundering Cases Arrested in Dubai

Police in Dubai said on Friday that they have arrested a suspected British man wanted in Denmark over a $1.7 billion tax fraud and money-laundering cases.

Dubai Police in a statement identified the man as Sanjay Shah, 52, and said the arrest came following close cooperation with the Danish government as part of an agreement signed in March allowing for extradition between the two countries.

Dubai Police Brig. Gen. Jamal Al Jallaf said that UAE received an international arrest warrant from Denmark for Shah for a dividend-tax fraud case.

“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 said.

Al Jallaf also said that Dubai Police raid officers carried out the arrest with precision and professionalism.

“We will soon hand over Sanjay Shah to the Danish authorities after presenting him before the Public Prosecution in Dubai,” Al Jallaf said.

Dubai police Commander-in-Chief, General Abdullah Khalifa Al Marri said that Dubai police would always keen to maintain strong and active communication channels with world’s police in order to tackle transnational organized crime, including fraud and money-laundering.

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