Dubai court tells trader and wife to repay USD 1bn to Denmark

The Danish tax agency is satisfied with the decision but a spokesman for the trader says his lawyers intend to lodge an appeal.

Sanjay Shah. | Photo: CHRISTOPHER PIKE/AP

A Dubai court has ordered Sanjay Shah, his wife, and companies tied to the hedge fund trader to repay Denmark more than 4.6 billion Emirati Dirhams (EUR 1.25bn).

The appeals court overturned a prior ruling last week saying Shah must pay the sum with 5% interest from the day of the decision. The Danish tax agency, which confirmed the ruling, says it “is satisfied with the decision of the appellate court against one of the central players in the fraud committed against Denmark.”

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from AMWatch

Pensions sector responds to "unnuanced" carbon report

In a new report, NGO Mellemfolkeligt Samvirke criticized the pension sector for its DKK 22bn investments in fossil fuel expansion. An industry organization has now responded, saying the report ignores the complicated nature of the issue.

Further reading

Related articles

Latest news

Watch job

See all jobs

See all jobs

Latest news from FinansWatch (dk)

Latest news from EnergyWatch

Latest news from ShippingWatch