Hedge Fund Founder Claims Controversial Tax Trades Were ‘Completely Legal’
- Shah is accused of masterminding £1.4 billion tax fraud scheme
- Shah is in a Danish jail where he faces a criminal trial
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Sanjay Shah, the hedge fund founder accused of masterminding a Cum-Ex trading scheme that robbed £1.4 billion ($1.7 billion) from the Danish government, claimed he thought the transactions were “completely legal.”
“I am — or at least, I was — a hardworking and highly successful entrepreneur,” Shah said in London court documents filed by his lawyers. Shah, who set up Solo Capital Partners, believed that the Cum-Ex trading scheme was a “structure legitimately traded by international banks” and that “no external party considered otherwise.”