After a five-year court battle, the Dubai Court of Cassation yesterday closed the curtain on “the largest tax fraud in the history of the Kingdom of Denmark,” and issued a ruling obligating Sanjay Shah, a British national, and his partners to refund 5 billion dirhams and 5% interest, after they were convicted of “Fraud”, in a final ruling, “confirms the serious and solid position of the UAE judiciary against any financial violations,” according to what was confirmed by the Al Omar and Al Sabah Law Firm, the representative of the Danish Tax Authority, who explained that the implementation process regarding the delivery of funds “has already begun.”
According to the case file moved by the Tax and Customs Authority in Denmark in August 2018, and it includes more than nine million documents, the British investor “is the main planner in the case, and submitted false documents about his and his partners owning shares in 126 Danish companies and demanded a refund of taxes that he was not due between 2012 and 2015.
The ruling came in support of a previous ruling issued by the Court of Appeal in Dubai in September of last year, in which it convicted the defendants of tax fraud and ordered the European investor and his partners to pay 5 billion dirhams with a legal interest of 5% to the Tax and Customs Authority in Denmark.
The Court of Appeal had appointed a committee to review the case file in March 2021, followed by the committee submitting a report through which it determined the number of companies owned by the investor and his accomplices in the illegal acquisition scheme, and that all those funds were deposited in the accounts of those companies.
The Dubai Court of Cassation upheld the previous ruling issued by the Court of Appeal in the emirate, which obliges the defendants to pay the aforementioned amount to the Tax and Customs Authority in Denmark.
The Dubai Police General Command arrested 52-year-old Sanjay Shah, who is one of the most wanted by the Danish authorities, for his involvement in the largest tax fraud and money laundering operation in the history of the Kingdom of Denmark, amounting to 12 billion Danish crowns, equivalent to about 1.7 million dirhams. billion US dollars, through the establishment of several companies specialized in
The arrest of Sanjay Shah came after the Dubai Police received an international arrest warrant from the Danish authorities received by the Ministry of Justice represented by the Department of International Cooperation as the central authority receiving official international cooperation requests and transferring them to the Public Prosecution in Dubai.