A British judge said Sanjay Shah's case, brought by Denmark over an alleged tax fraud, was 'politically motivated'. Antonie Robertson / The National
A British judge said Sanjay Shah's case, brought by Denmark over an alleged tax fraud, was 'politically motivated'. Antonie Robertson / The National
A British judge said Sanjay Shah's case, brought by Denmark over an alleged tax fraud, was 'politically motivated'. Antonie Robertson / The National
A British judge said Sanjay Shah's case, brought by Denmark over an alleged tax fraud, was 'politically motivated'. Antonie Robertson / The National

Judge condemns Denmark’s pursuit of Dubai tycoon Sanjay Shah over alleged £1.5bn tax fraud


Nicky Harley
  • English
  • Arabic

A UK judge said Denmark’s pursuit of Dubai hedge fund tycoon Sanjay Shah and his associates over a £1.5 billion ($2.11bn) alleged tax fraud was “politically motivated” and designed to make an example of those involved.

The Danish tax authority Skat last month lost its attempt to launch legal action in London's High Court against Mr Shah and 70 other defendants, many of which are companies in the UK, on the grounds that the UK was not the proper place to bring a foreign tax claim.

Mr Justice Andrew Baker, who dismissed the case, stopped short of lifting the global freezing of British businessman Mr Shah's assets, an issue that will be determined at a hearing next month.

The judge ruled this week that Skat was liable for all the defendants' legal costs, and he condemned the judgment of leading Danish politicians for bringing the case.

"It was litigation that was politically as well as financially motivated," he said. "The litigation was the subject of ill-judged public statements by senior Danish politicians appearing to pre-judge the factual issues that would have fallen to be determined by the court.

“They both confirmed, or reinforced, the impression that there was a substantial political dimension to the bringing and vigorous pursuit of the claims brought here, in particular that their purpose was punishment and deterrence as much as it was financial recovery for the Danish taxpayer, and also involved a degree of 'playing to the gallery' in response to the significant media interest this affair has generated in Denmark.”

The London court case played prominently in Danish media, drawing comment from the country's public prosecutor and tax minister, while the government faced scrutiny over substantial loss of funds.

Skat claimed Mr Shah was a central player in a scheme in which foreign businesses pretended to own shares in Danish companies, then claimed tax refunds for which they were not eligible.

The London case – which was expected to be the longest in UK High Court history – is just one avenue Denmark is pursuing in a bid to recoup the rebates it says it unwittingly granted Mr Shah and others.

Mr Shah said his schemes were a “widely known and wholly legitimate trading strategy”.

This year, Denmark brought criminal charges against Mr Shah and is seeking his extradition from Dubai.

Acting Danish State Prosecutor Per Fiig said that the severity of the case was such that Denmark could seek a 12-year prison sentence for Mr Shah – a longer sentence than such crimes would usually carry.

Last year, Danish authorities froze many of Mr Shah's assets, including a £15 million ($20.8m) home near Hyde Park in London.

The specs

Engine: 3.8-litre, twin-turbo V8

Transmission: eight-speed automatic

Power: 582bhp

Torque: 730Nm

Price: Dh649,000

On sale: now  

Profile

Company: Justmop.com

Date started: December 2015

Founders: Kerem Kuyucu and Cagatay Ozcan

Sector: Technology and home services

Based: Jumeirah Lake Towers, Dubai

Size: 55 employees and 100,000 cleaning requests a month

Funding:  The company’s investors include Collective Spark, Faith Capital Holding, Oak Capital, VentureFriends, and 500 Startups. 

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Essentials
The flights: You can fly from the UAE to Iceland with one stop in Europe with a variety of airlines. Return flights with Emirates from Dubai to Stockholm, then Icelandair to Reykjavik, cost from Dh4,153 return. The whole trip takes 11 hours. British Airways flies from Abu Dhabi and Dubai to Reykjavik, via London, with return flights taking 12 hours and costing from Dh2,490 return, including taxes. 
The activities: A half-day Silfra snorkelling trip costs 14,990 Icelandic kronur (Dh544) with Dive.is. Inside the Volcano also takes half a day and costs 42,000 kronur (Dh1,524). The Jokulsarlon small-boat cruise lasts about an hour and costs 9,800 kronur (Dh356). Into the Glacier costs 19,500 kronur (Dh708). It lasts three to four hours.
The tours: It’s often better to book a tailor-made trip through a specialist operator. UK-based Discover the World offers seven nights, self-driving, across the island from £892 (Dh4,505) per person. This includes three nights’ accommodation at Hotel Husafell near Into the Glacier, two nights at Hotel Ranga and two nights at the Icelandair Hotel Klaustur. It includes car rental, plus an iPad with itinerary and tourist information pre-loaded onto it, while activities can be booked as optional extras. More information inspiredbyiceland.com

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Tamkeen's offering
  • Option 1: 70% in year 1, 50% in year 2, 30% in year 3
  • Option 2: 50% across three years
  • Option 3: 30% across five years 
Company%20Profile
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COMPANY PROFILE

Name: Xpanceo

Started: 2018

Founders: Roman Axelrod, Valentyn Volkov

Based: Dubai, UAE

Industry: Smart contact lenses, augmented/virtual reality

Funding: $40 million

Investor: Opportunity Venture (Asia)

Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

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