<span style="color: #222222;">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.<br />''<br />''The court upheld a previous ruling that granted Denmark's request for extradition, although it is not yet clear when Shah will be extradited.<br />''<br />''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.<br />''<br />''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.<br />''<br />''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.<br />''<br />''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.<br />''<br />''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.</span><br />
News On AIR | April 4, 2023 1:29 PM
British Financier Sanjay Shah to be Extradited from Dubai to Denmark for Alleged 1.7 Billion Tax Fraud