clearn.png
Friday January 27th, 2023 6:51PM

Dubai court orders man to pay $1.25B to Denmark in tax case

By The Associated Press
Related Articles
  Contact Editor

DUBAI, United Arab Emirates (AP) — A British man accused by Denmark of masterminding a $1.7 billion tax fraud has been ordered by a Dubai court to pay Copenhagen's tax authority $1.25 billion, court filings seen Friday show, just days after another Dubai court rejected an extradition order for him.

The order by the Dubai Court of Appeal against Sanjay Shah comes as part of a civil case filed four years ago by Denmark's tax authority, who have been pursuing him as part of their investigation in one of the country's largest-ever tax fraud case.

Shah has maintained his innocence in the case while fighting extradition. Lawyers representing Shah in the separate civil case did not immediately respond to a request for comment Friday.

Denmark has accused Shah of masterminding an elaborate tax scheme for three years beginning in 2012 involving foreign businesses pretending to own shares in Danish companies and claiming tax refunds for which they were not eligible.

The Danish tax authority, Skattestyrelsen, filed the civil case against Shah in 2018 through a local Dubai law firm. In its decision Wednesday, the Dubai Court of Appeal said Denmark had sought $1.9 billion from Shah and his alleged accomplices.

Shah’s lifestyle on Dubai’s luxurious palm-shaped island over the past few years had sparked outrage in Denmark. After Danish authorities signed an extradition agreement with the UAE, Dubai police arrested Shah in June. Shah is one of several suspects in the tax scheme sought by Danish authorities.

During his time in Dubai, the hedge fund manager ran a center for autistic children that shut down in 2020 as Denmark tried to extradite him. He also oversaw a British-based charity, Autism Rocks, which raised funds through concerts and performances.

On Monday, another Dubai court ruled Shah cannot be extradited to Denmark to face charges. Lawyers representing Shah in the case told The Associated Press on Thursday that prosecutors had filed an appeal seeking to overturn that decision.

The extradition case targeting Shah comes as pressure grows on Dubai, the region’s financial hub, over its alleged weaknesses in combating illicit finance.

The UAE, a federation of seven emirates, has long invited the wealthy, including disgraced public figures, to invest in the country without questioning where they made their money. Scrutiny of Dubai has intensified as the flashy city-state becomes a haven for Russian money amid Moscow’s war on Ukraine.

___

Follow Malak Harb on Twitter at www.twitter.com/malakharb.

  • Associated Categories: Associated Press (AP), AP World News, AP Business
© Copyright 2023 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Dubai court orders man to pay $1.25B to Denmark in tax case
A British man accused by Denmark of masterminding a $1.7 billion tax fraud has been ordered by a Dubai court to pay Copenhagen’s tax authority $1.25 billion
3:20AM ( 33 minutes ago )
GOP nominee for Nevada gov. says he'll fight US abortion ban
The GOP's nominee for Nevada governor says he would fight against a national abortion ban if the U.S. Congress were to pass it
2:34AM ( 1 hour ago )
Ukrainian president: Mass grave found near recaptured city
Ukrainian authorities have found a mass burial site near a recaptured northeastern city previously occupied by Russian forces
2:15AM ( 1 hour ago )
Associated Press (AP)
Charles' history with US presidents: He's met 10 of past 14
Hanging out with Richard Nixon's daughter
12:20AM ( 3 hours ago )
Mourners wait for hours, miles to farewell Queen Elizabeth
Thousands of mourners are waiting for up to nine hours in line to file past the coffin of Queen Elizabeth II as she lies in state at Westminster Hall
10:15PM ( 5 hours ago )
Putin thanks China's Xi for his 'balanced' stand on Ukraine
Russian President Vladimir Putin thanked Chinese leader Xi Jinping for his “balanced” approach to the Ukrainian crisis and blasted Washington’s “ugly” policies at a meeting that followed a major setback for Moscow in the war
10:02PM ( 5 hours ago )
AP World News
Biden, S. African leader to discuss Ukraine, trade, climate
Presidents Joe Biden and Cyril Ramaphosa of South Africa are set for White House talks on Russia’s war in Ukraine, climate issues, trade and more
12:14AM ( 3 hours ago )
Asian stocks follow Wall St lower amid inflation pressure
Asian stock markets have followed Wall Street lower after higher-than-expected U.S. inflation dashed hopes the Federal Reserve might ease off more interest rate hikes
11:23PM ( 4 hours ago )
Sarver should resign, says Suns vice chairman Jahm Najafi
Phoenix Suns vice chairman Jahm Najafi has called for team owner Robert Sarver to resign, saying there should be “zero tolerance” for lewd, misogynistic and racist conduct in any workplace
9:37PM ( 6 hours ago )
AP Business
GOP nominee for Nevada gov. says he'll fight US abortion ban
The GOP's nominee for Nevada governor says he would fight against a national abortion ban if the U.S. Congress were to pass it
2:34AM ( 1 hour ago )
Ukrainian president: Mass grave found near recaptured city
Ukrainian authorities have found a mass burial site near a recaptured northeastern city previously occupied by Russian forces
2:15AM ( 1 hour ago )
New Zealand republic debate complicated by Māori treaty
The death of Queen Elizabeth II last week has reignited debate in New Zealand about whether it should continue recognizing Britain’s monarch as its symbolic head of state or take the final step toward independence by becoming a republic
2:13AM ( 1 hour ago )
Germany takes control of 3 Russian-owned oil refineries
Germany is taking control of three Russian-owned refineries in the country to ensure energy security before an embargo on oil from Russia takes effect next year
2:12AM ( 1 hour ago )
Federer, Serena retire; tennis moves on to Alcaraz, Swiatek
The timing of it all hardly could be more symbolic: All within a span of two weeks, Serena Williams plays what is believed to be her last match at age 40, Roger Federer announces he’ll be retiring at 41, Iga Swiatek wins her third Grand Slam title at 21, and Carlos Alcaraz gets his first at 19
2:09AM ( 1 hour ago )