Dubai Police have arrested 52-year old British national Sanjay Shah, with the aim of subsequent extradition for prosecution in Denmark.
Shah is a suspect in a $1.7 billion (12 billion Danish Crowns) dividend-tax fraud case in Denmark.
The UK national is “wanted” by Danish authorities for being involved in a scheme in which foreign businesses pretended to own shares in Danish companies and claim tax refunds for which they were not eligible.
“The fraud scheme, known as ‘cum-ex’ trading, involved submitting more thousands of applications to the Danish Treasury on behalf of investors and companies from several countries around the world in order to receive dividend tax refunds,” Brigadier Jamal Al Jallaf explained.
Shah, along with others, is now facing charges of dividend-tax fraud and money laundering.
The assistant commander-in-chief for Criminal Investigation Affairs, Expert Major General Khalil Ibrahim Al Mansouri, explained that through the exchange of information with the Danish authorities, a task force of elite officers and members from the Wanted Persons Department and the Anti-Money Laundering Department investigated, gathered evidence, and tracked the suspect’s movements and whereabouts.
Dubai Police‘s raid officers carried out the arrest with extreme precision and professionalism, the authority said in a statement.
Sanjay Shah will be handed over to the competent Danish authorities after presenting him before the Public Prosecution in Dubai and taking legal actions to obtain his extradition warrant as per the international laws in this regard.
The arrest follows a recently signed bilateral extradition treaty in March 2022, establishing a foundation for extraditing individuals suspected of committing crimes on Danish soil to Denmark for prosecution.
The commander-in-chief of Dubai Police, Lieutenant General Abdullah Khalifa Al Marri, reaffirmed that Dubai Police, as per the directives and instructions of the UAE’s wise leadership, has always been keen on maintaining strong, active, and vital communication channels with the world’s police and justice agencies to tackle transnational organised crime including financial crimes and fraud.
Lt Gen Al Marri also praised the tremendous efforts made by the force’s team from the General Department of Criminal Investigations, who located, tracked, and arrested the suspect in coordination with the Dubai Public Prosecution.
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