British Hedge Fund Founder Jailed Over $1.3 Billion Tax Scam in Denmark
- Shah appealed the ruling, says he didn’t get a fair trial
- Denmark at center of one of Europe’s biggest tax scandals
Sanjay Shah
Photographer: Christopher Pike/BloombergThis article is for subscribers only.
British hedge fund trader Sanjay Shah was sentenced to 12 years in prison by Danish judges for orchestrating a billion-dollar tax scam, the heaviest jail term handed down so far in Europe’s sprawling Cum-Ex trading scandal.
A Danish district court on Thursday convicted the Solo Capital founder of serious fraud for creating a scheme that duped the Nordic nation’s treasury out of more than 9 billion kroner ($1.3 billion) through thousands of sham dividend tax refund applications between 2012 and 2015.