British hedge fund trader to be sent to Denmark to face tax case

Anthony Patterson will be extradited to Denmark from the UK, charged with assisting in Cum-Ex trades that cheated the Danish tax authorities of around USD 1.2bn.

Photo: Aleksander Klug/Ritzau Scanpix

A British hedge fund trader lost his battle to avoid extradition to Denmark to face charges that he helped facilitate the Cum-Ex tax trades that swindled the Danish treasury of about DKK 9bn (USD 1.2bn).

Anthony Patterson, 51, should be sent to the Nordic country, London judge Timothy Godfrey, said Tuesday, to be tried alongside Sanjay Shah. The trader acted as an assistant to Shah, the alleged mastermind of the complex tax transactions, helping to plan the trades in return for some 1.5% of the fraudulently reclaimed tax, according to Danish authorities.

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