Danish court sentences British hedge fund trader to 12 years over massive tax fraud

A Danish court has sentenced a British hedge fund trader to 12 years in prison in connection with what authorities say was a 9 billion kroner ($1.3 billion) tax fraud, Danish justice officials confirmed. Sanjay Shah was extradited from Dubai in 2023 to face trial on charges he masterminded a tax scheme in which complex trades were used to fraudulently obtain tax refunds from the Danish government. Shah has argued that he exploited a legal loophole and his lawyers have said he will appeal the sentence handed down Thursday. At the time of his extradition the Danish taxation minister described the case as “one of the biggest criminal fraud cases in Danish history.”