Banking & Finance UAE extradites Sanjay Shah to Denmark over tax fraud By Pramod Kumar December 6, 2023, 7:35 AM Creative Commons/Wikimedia UK citizen Sanjay Shah has been extradited to Denmark’s security mission after a Dubai court decision Dubai Court of Cassation ruling UK citizen in UAE since 2009 $1.26bn allegedly owed The UAE on Wednesday ordered the extradition of Sanjay Shah, a UK citizen, to Denmark to face charges of massive tax fraud and money laundering. Shah was extradited to Denmark’s security mission following a decision by Dubai’s Court of Cassation, the UAE state-run Wam news agency reported. The UAE justice minister has also approved the extradition, Wam said. UAE sets up bankruptcy court to rule on disputes World’s biggest law firm sets up in Saudi Arabia Once off the grey list, UAE can really work on its image Shah, who has been living in Dubai since 2009, is accused of running a scheme by which foreign investors were able to claim double dividend tax refunds for which they were not eligible. The scheme allegedly involved submitting applications to the Danish Treasury on behalf of foreign businesses for dividend tax refunds worth more than 9 billion Danish crowns ($1.32 billion). Shah is one of a number of alleged international fraudsters who have based themselves in the UAE. The extradition is consistent with a decision by the Financial Action Task Force to take the country off its so-called grey list which is expected next year. The UAE signed an extradition agreement with Denmark in March 2022, one of 40 agreements in recent years. Earlier in May, the emirate’s highest court refused an appeal by Shah in a judgement, stating “he must repay the funds in question”. The Danish authorities are seeking AED4.64 billion ($1.26 billion), plus 5 percent interest. Shah’s UK lawyer, Chris Waters, managing partner at Meaby & Co in London, said in a statement to AGBI in May: “Our clients are obviously very disappointed with the judgement handed down by the Court of Cassation in Dubai.” An initial ruling by Dubai’s Court of First Instance dismissed the claim in August 2020, after which the case was taken to the Court of Appeal. In September 2022, Dubai’s Court of Appeal ruled that Shah and several others, who were not identified, had unlawfully obtained tax refunds from the Danish tax authority, Skattestyrelsen, between 2012 and 2015. Shah then appealed the ruling, leading to the final judgement made by Dubai’s Court of Cassation.
