• Sanjay Shah, pictured in his Dubai home in 2017, was detained by police in June 2022. Denmark's tax authority says he defrauded the Danish state of $1.7bn through a complex scheme known as cum ex trading. Antonie Robertson / The National
    Sanjay Shah, pictured in his Dubai home in 2017, was detained by police in June 2022. Denmark's tax authority says he defrauded the Danish state of $1.7bn through a complex scheme known as cum ex trading. Antonie Robertson / The National
  • Shah pictured in 2020. He admits making huge sums of money through cum ex trading in Denmark but denies he broke any laws, which the Danish government disputes. Antonie Robertson / The National
    Shah pictured in 2020. He admits making huge sums of money through cum ex trading in Denmark but denies he broke any laws, which the Danish government disputes. Antonie Robertson / The National
  • Justin Bieber performs at the Autism Rocks Arena in Dubai in 2016. Sanjay Shah ran the arena, which was named after a UK-registered autism charity that he founded. The charity and arena are no longer operating. Chris Whiteoak / The National
    Justin Bieber performs at the Autism Rocks Arena in Dubai in 2016. Sanjay Shah ran the arena, which was named after a UK-registered autism charity that he founded. The charity and arena are no longer operating. Chris Whiteoak / The National
  • Abdullah Al Nuaimi, Minister of Justice, in June said Shah's arrest was a clear sign of the commitment to disrupting organised crime. In the past two years there has been a spate of arrests and extraditions of alleged criminals. Victor Besa / The National
    Abdullah Al Nuaimi, Minister of Justice, in June said Shah's arrest was a clear sign of the commitment to disrupting organised crime. In the past two years there has been a spate of arrests and extraditions of alleged criminals. Victor Besa / The National

Dubai court rules Sanjay Shah can be extradited to Denmark over alleged $1.7bn tax fraud


Ali Al Shouk
  • English
  • Arabic

A Dubai court on Thursday ruled that hedge fund trader Sanjay Shah can be extradited to Denmark for prosecution over an alleged $1.7 billion tax fraud.

Mr Shah, a British citizen who lived on The Palm Jumeirah, is accused of being the central player in a scheme in which foreign businesses pretended to own shares in Danish companies and claimed tax refunds for which they were not eligible.

In January, Mr Shah denied the charges and said he was operating within Danish law.

An international warrant for his arrest was received by Dubai Police on January 7 and he was arrested five months later in the emirate's Al Rafaa district.

The arrest came after the signing of an extradition agreement between the UAE and Denmark in March.

"The Dubai Court of Appeal has issued a ruling to extradite Sanjay Shah, a British citizen, to Denmark," said a statement issued by Dubai Media Office on Thursday.

"Danish authorities want the suspect for alleged fraud and money laundering. The ruling follows the hearing of an appeal by the Dubai Attorney General.

"Dubai Police arrested Shah earlier this year following an extradition request from Danish authorities. The arrest and ruling align with Dubai and the UAE’s commitment to combat illegal financial activities, including money laundering, and implement global standards and policies."

Ali Al Zarouni, Mr Shah's lawyer, said his client will appeal against the extradition ruling made by Dubai Court of Appeal.

“We are disappointed in the result of the judgment handed down today," he said. "From our initial reading of the judgment, we believe that the law should be interpreted and applied in a different way.

"We now have 30 days in which to appeal today’s judgment in the Court of Cassation, the highest court in the UAE, and in our appeal we will fully explain our reasoning.

"The decision of the Court of Cassation, which we anticipate in the next two months, will be final.

"Both we and Mr Shah have full confidence in the legal system of the UAE."

In September, Dubai Court of Appeal refused Denmark’s request for the extradition of Mr Shah because of a lack of original official documentation.

Dubai's attorney general, Essam Issa Al Humaidan, appealed against this ruling, which allowed Mr Shah to remain in the emirate.

In the same month, judges in Dubai presiding over a civil lawsuit filed by the Danish government ruled that Mr Shah must repay $1.25 billion to the Danish state.

Dubai Court of Cassation, the top court in the emirate's three-tier system, in October referred the extradition case against Mr Shah back to the appeal court to be heard by a new panel of judges.

WIDE%20VIEW
%3Cp%3EThe%20benefits%20of%20HoloLens%202%2C%20according%20to%20Microsoft%3A%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EManufacturing%3A%3C%2Fstrong%3E%20Reduces%20downtime%20and%20speeds%20up%20onboarding%20and%20upskilling%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EEngineering%20and%20construction%3A%3C%2Fstrong%3E%20Accelerates%20the%20pace%20of%20construction%20and%20mitigates%20risks%20earlier%20in%20the%20construction%20cycle%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EHealth%20care%3A%3C%2Fstrong%3E%20Enhances%20the%20delivery%20of%20patient%20treatment%20at%20the%20point%20of%20care%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EEducation%3A%3C%2Fstrong%3E%20Improves%20student%20outcomes%20and%20teaches%20from%20anywhere%20with%20experiential%20learning%3C%2Fp%3E%0A
MOUNTAINHEAD REVIEW

Starring: Ramy Youssef, Steve Carell, Jason Schwartzman

Director: Jesse Armstrong

Rating: 3.5/5

Sun jukebox

Rufus Thomas, Bear Cat (The Answer to Hound Dog) (1953)

This rip-off of Leiber/Stoller’s early rock stomper brought a lawsuit against Phillips and necessitated Presley’s premature sale to RCA.

Elvis Presley, Mystery Train (1955)

The B-side of Presley’s final single for Sun bops with a drummer-less groove.

Johnny Cash and the Tennessee Two, Folsom Prison Blues (1955)

Originally recorded for Sun, Cash’s signature tune was performed for inmates of the titular prison 13 years later.

Carl Perkins, Blue Suede Shoes (1956)

Within a month of Sun’s February release Elvis had his version out on RCA.

Roy Orbison, Ooby Dooby (1956)

An essential piece of irreverent juvenilia from Orbison.

Jerry Lee Lewis, Great Balls of Fire (1957)

Lee’s trademark anthem is one of the era’s best-remembered – and best-selling – songs.

The specs: 2018 Nissan 370Z Nismo

The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
​​​​​​​Fuel consumption, combined: 10.5L / 100km

MATCH INFO

What: 2006 World Cup quarter-final
When: July 1
Where: Gelsenkirchen Stadium, Gelsenkirchen, Germany

Result:
England 0 Portugal 0
(Portugal win 3-1 on penalties)

How to avoid crypto fraud
  • Use unique usernames and passwords while enabling multi-factor authentication.
  • Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
  • Avoid suspicious social media ads promoting fraudulent schemes.
  • Only invest in crypto projects that you fully understand.
  • Critically assess whether a project’s promises or returns seem too good to be true.
  • Only use reputable platforms that have a track record of strong regulatory compliance.
  • Store funds in hardware wallets as opposed to online exchanges.
Our legal advisor

Ahmad El Sayed is Senior Associate at Charles Russell Speechlys, a law firm headquartered in London with offices in the UK, Europe, the Middle East and Hong Kong.

Experience: Commercial litigator who has assisted clients with overseas judgments before UAE courts. His specialties are cases related to banking, real estate, shareholder disputes, company liquidations and criminal matters as well as employment related litigation. 

Education: Sagesse University, Beirut, Lebanon, in 2005.

Benefits of first-time home buyers' scheme
  • Priority access to new homes from participating developers
  • Discounts on sales price of off-plan units
  • Flexible payment plans from developers
  • Mortgages with better interest rates, faster approval times and reduced fees
  • DLD registration fee can be paid through banks or credit cards at zero interest rates
UAE central contracts

Full time contracts

Rohan Mustafa, Ahmed Raza, Mohammed Usman, Chirag Suri, Mohammed Boota, Sultan Ahmed, Zahoor Khan, Junaid Siddique, Waheed Ahmed, Zawar Farid

Part time contracts

Aryan Lakra, Ansh Tandon, Karthik Meiyappan, Rahul Bhatia, Alishan Sharafu, CP Rizwaan, Basil Hameed, Matiullah, Fahad Nawaz, Sanchit Sharma

Fight card

1. Bantamweight: Victor Nunes (BRA) v Siyovush Gulmamadov (TJK)

2. Featherweight: Hussein Salim (IRQ) v Shakhriyor Juraev (UZB)

3. Catchweight 80kg: Rashed Dawood (UAE) v Khamza Yamadaev (RUS)

4. Lightweight: Ho Taek-oh (KOR) v Ronald Girones (CUB)

5. Lightweight: Arthur Zaynukov (RUS) v Damien Lapilus (FRA)

6. Bantamweight: Vinicius de Oliveira (BRA) v Furkatbek Yokubov (RUS)

7. Featherweight: Movlid Khaybulaev (RUS) v Zaka Fatullazade (AZE)

8. Flyweight: Shannon Ross (TUR) v Donovon Freelow (USA)

9. Lightweight: Mohammad Yahya (UAE) v Dan Collins (GBR)

10. Catchweight 73kg: Islam Mamedov (RUS) v Martun Mezhulmyan (ARM)

11. Bantamweight World title: Jaures Dea (CAM) v Xavier Alaoui (MAR)

12. Flyweight World title: Manon Fiorot (FRA) v Gabriela Campo (ARG)

Updated: December 29, 2022, 8:10 PM