A British hedge fund trader has been sentenced to 12 years in prison by a Danish court for his involvement in a 9 billion kroner ($1.3 billion) tax fraud scheme. Sanjay Shah, who was extradited from Dubai to face trial, was found guilty of orchestrating a complex tax fraud operation that exploited loopholes to fraudulently obtain tax refunds from the Danish government.
The Danish taxation minister described the case as one of the biggest criminal fraud cases in Danish history. Shah, however, has maintained that he was operating within the bounds of the law and plans to appeal the sentence.
