DUBAI, UNITED ARAB EMIRATES (AP) — A Dubai courtroom has ordered a Briton accused through Denmark of orchestrating a $1.7 billion tax fraud to pay $1.25 billion to the Copenhagen tax authority, courtroom paperwork filed on Friday display, in only a few days after every other courtroom in Dubai rejected his extradition order.
The Dubai Court docket of Attraction’s ruling in opposition to Sanjay Shah is a part of a civil case filed 4 years in the past through the Danish tax authority, which prosecuted him in probably the most nation’s greatest tax fraud instances.
The Shah maintained his innocence within the case whilst preventing extradition. Attorneys representing Shah in a separate civil case didn’t right away reply to a request for touch upon Friday.
Denmark accused the Shah of creating an elaborate tax scheme over the route of 3 years beginning in 2012 involving overseas firms that pretended to possess stocks in Danish firms and demanded refunds of taxes they weren’t entitled to.
Danish Tax Authority Skattestyrelsen introduced a civil swimsuit in opposition to Shah in 2018 thru an area legislation company in Dubai. In its ruling on Wednesday, the Dubai Court docket of Attraction mentioned Denmark was once looking for $1.9 billion from the Shah and his alleged mates.
The Shah’s way of life on a sumptuous palm-tree-shaped island in Dubai has sparked outrage in Denmark during the last few years. After the Danish government signed an extradition settlement with the UAE, Dubai police arrested the Shah in June. Shah is one in every of a number of suspects in a tax scheme sought after through Danish government.
All the way through his time in Dubai, the hedge fund supervisor ran a middle for autistic kids, which closed in 2020 when Denmark attempted to extradite him. He additionally ran the United Kingdom charity Autism Rocks which raised price range thru live shows and performances.
On Monday, every other courtroom in Dubai dominated that the Shah may just now not be extradited to Denmark to stand fees. Attorneys representing Shah within the case advised The Related Press on Thursday that prosecutors have filed an enchantment to overturn the verdict.
The Shah’s extradition case comes amid rising force on Dubai, the area’s monetary powerhouse, over its alleged weak spot in coping with illicit finance.
The UAE, a federation of 7 emirates, has lengthy been inviting the rich, together with disgraced public figures, to put money into the rustic with out wondering the place they made their cash. Consideration to Dubai has intensified as the flowery city-state turns into a secure haven for Russian cash amid Moscow’s warfare with Ukraine.
Apply Malak Harb on Twitter: www.twitter.com/malakharb.