AMN
The Court of Cassation in Dubai has rejected the appeal of a British financier, Sanjay Shah, who is fighting extradition to Denmark on charges of orchestrating a $1.7 billion tax fraud scheme. Shah, a hedge fund trader, was arrested in Dubai last year after being accused of masterminding the scheme, which ran from 2012 to 2015.
The court upheld a previous ruling that granted Denmark’s request for extradition, although it is not yet clear when Shah will be extradited.
In a separate ruling last September, Shah was ordered to pay $1.25 billion to Denmark’s tax authority as part of a civil case in Dubai. Shah’s lawyers are appealing that ruling, and he has maintained his innocence in interviews with journalists. The 52-year-old financier’s lifestyle on Dubai’s luxurious palm-shaped island had sparked outrage in Denmark.
During his time in Dubai, Shah ran a center for autistic children that shut down in 2020 as Denmark sought his extradition. He also oversaw a British-based charity, Autism Rocks, which raised funds through concerts and performances.
After Danish authorities signed an extradition agreement with the UAE, Dubai police arrested Shah in June. Shah is one of several suspects sought over the tax scheme.
During his time in Dubai, the hedge fund manager ran a center for autistic children that shut down in 2020 as Denmark sought his extradition.
He also oversaw a British-based charity, Autism Rocks, which raised funds through concerts and performances. Sanjay Shah is a Dubai-based British-Indian businessman and founder Solo Capital, a hedge fund firm which closed in 2016, and the NGO Autism Rocks, which closed in 2020.