- Danish prosecutors indict six British and American nationals for fraud
A British man accused of defrauding the Danish tax authorities of more than 320 million Danish crowns (approximately £36.6 million) in a bogus trading scheme designed to obtain double tax refunds has been sentenced to six years in prison. .
In 2021, Danish prosecutors filed preliminary criminal charges against Günter Klar, 54, and two other British and three American nationals, accusing them of defrauding tax authorities of more than 1.1 billion crowns.
Klar was extradited from Belgium to Denmark for prosecution in June last year.
The charges relate to a broader so-called “Kanemoto” trading scheme, in which the Danish state says it lost more than 12.7 billion crowns.
The main suspect in the case, another British national named Sanjay Shah, was extradited to Denmark from Dubai in December. Both deny wrongdoing.
Shah, 52, was arrested in Dubai in 2022 at the request of Danish authorities, who accused him of exploiting European tax rules for personal gain through a now-defunct hedge fund.
UAE state media reported that “UAE authorities have extradited to Denmark Sanjay Shah, a British national wanted by the judiciary on charges of tax evasion and money laundering.”
“Mr. Shah was handed over to the Danish security mission in accordance with legal procedures, based on the decision of the Dubai Court of Cassation and the resolution of the Minister of Justice approving the handover.”
After his extradition in December, two Danish police officers were seen escorting the suspect to a gray Volkswagen van that was waiting for him on the runway at Copenhagen’s Kastrup Airport.
Shah, who is suspected of carrying out the scheme between 2012 and 2015, was arrested by Dubai police after Danish authorities requested his extradition to face long-standing fraud charges.
The Danish Customs and Taxation Authority (SKAT) wants to recover £1.44 billion from defendants, including Mr Shah and his hedge fund, for fraudulently claiming tax refunds through so-called ‘Cum-Ex’ transactions.
He has consistently denied wrongdoing.
“Cum-ex” (Latin for “with-without”) schemes flourished after the 2008 financial crisis, and are schemes in which banks, investors and It involved rapid trading of stocks centered on a syndicate of hedge funds. And Belgium.
Cum-Ex trading worked when an allegedly fraudulent network lent stocks of large companies to each other, so tax authorities thought each stock had two owners.
The bank used for the stock transaction will issue a receipt “confirming” that dividend tax was paid on the transaction.
Cum-Ex trading saw the allegedly fraudulent network quickly trade these stocks right before the dividend payment date, allowing them to recoup double their taxes.
The cost of cross-border trade in 10 European countries is estimated to be over €55bn (£47bn).
Mr Shah’s lifestyle on Dubai’s luxurious palm-shaped island in recent years has sparked outrage in Denmark.
While in Dubai, the hedge fund manager ran a center for autistic children, which closed in 2020 after Denmark attempted to extradite him.
He also oversaw Autism Rocks, a UK-based charity that raised funds through concerts and performances.
The trader had previously had his £14.7 million Hyde Park mansion in Denmark repossessed over fraud charges.
In 2022 and early 2023, he was embroiled in a lengthy legal battle over whether he should be extradited from the UAE to Denmark.
The Dubai Court of Appeal initially rejected Denmark’s extradition request in September 2022, but later reversed that decision in December.
This was upheld in April, but no deadline was given for extradition.
In a separate judgment in September 2022, Mr Shah was ordered to pay £1 billion to the Danish tax authorities as part of civil proceedings in Dubai. His lawyer is also appealing the ruling.
Are you looking for a dependable solution to enhance the life of
your roof? Shingle Magic Roof Sealer is what you need.
The exceptional product offers an unparalleled level of protection for
your asphalt shingles, ensuring they remain durable.
Utilizing Shingle Magic Roof Sealer, you’re not just applying any
ordinary product. You’re investing in a high-end roof rejuvenation solution crafted to dramatically prolong the life of your roof by up to 30 years.
It’s a smart choice for property owners seeking to protect their investment.
Why choose Shingle Magic Roof Sealer? To begin with, its exclusive
formula gets into the asphalt shingles, rejuvenating their original strength and
aesthetic. Moreover, the sealer is incredibly straightforward to install, requiring no time for maximum results.
Besides Shingle Magic Roof Sealer prolong
the life of your roof, but it provides exceptional resistance to weather elements.
From harsh sunlight, rainstorms, or freezing temperatures,
your roof will be shielded.
Moreover, selecting Shingle Magic Roof Sealer indicates you’re opting for
an green option. Its non-toxic makeup guarantees reduced environmental impact,
thus making it a responsible choice for the planet.
Finally, Shingle Magic Roof Sealer is unparalleled as the ultimate
roof rejuvenation solution. Its ability to prolong
the life of your roof while providing superior protection and an eco-friendly option positions
it as the ideal choice for homeowners looking to invest in their property’s future.
Furthermore, one of the key benefits of Shingle Magic Roof Sealer is its affordability.
Rather than investing a significant amount on constant repairs or a full
roof replacement, applying Shingle Magic helps save you expenses in the long run.
This makes it a budget-friendly option that provides high-quality results.
Additionally, the user-friendly nature of Shingle Magic Roof
Sealer is noteworthy. You don’t need specialized knowledge to apply it.
If you enjoy DIY projects or prefer for expert application, Shingle Magic guarantees a smooth process with outstanding results.
The product’s lasting power is yet another compelling
reason to choose it. When applied, it forms a protective barrier
that keeps the integrity of your shingles for a long
time. That means fewer concerns about damage from the elements and greater peace of mind about the state
of your roof.
Regarding aesthetic appeal, Shingle Magic Roof Sealer also excels.
Besides protecting your roof but also boosts its appearance.
Your shingles will look refreshed, which adds curb appeal and
value to your property.
Client satisfaction with Shingle Magic Roof Sealer is another testament to its efficacy.
Numerous users have experienced remarkable
improvements in their roof’s state after using the product.
Testimonials underscore its user-friendliness, longevity, and superior defensive capabilities.
Finally, choosing Shingle Magic Roof Sealer represents selecting a trusted solution for roof rejuvenation. Its combination of sturdiness, beauty,
cost-effectiveness, and simplicity makes it the optimal choice for homeowners looking to extend the life and appearance of their roof.
Don’t hesitate to revitalize your roof with Shingle
Magic Roof Sealer.
Hey there! I know this is somewhat off-topic but I needed
to ask. Does operating a well-established blog such as yours take a lot of work?
I’m completely new to running a blog however I do write in my
journal daily. I’d like to start a blog so I will be able to share
my own experience and views online. Please let me
know if you have any kind of suggestions or tips for new aspiring blog owners.
Thankyou!
Good post. I learn something totally new and challenging on sites I
stumbleupon everyday. It’s always helpful to read through content from other authors and
use a little something from their web sites.
Great info. Lucky me I came across your website by accident (stumbleupon).
I’ve book-marked it for later!
I’m not that much of a internet reader to be honest but your blogs really nice, keep it up!
I’ll go ahead and bookmark your site to come back in the future.
Cheers
I think the admin of this site is truly working hard for his site, since here every material is
quality based material.
This design is spectacular! You definitely know how to keep
a reader amused. Between your wit and your videos, I was almost moved to
start my own blog (well, almost…HaHa!) Wonderful job.
I really loved what you had to say, and more than that, how you presented it.
Too cool!
Are you searching for a reliable solution to extend the life of your roof?
Shingle Magic Roof Sealer is your solution. This
innovative product provides an extraordinary degree of care for your asphalt shingles, guaranteeing they stay in top condition.
Utilizing Shingle Magic Roof Sealer, you’re not
just choosing any ordinary product. You’re investing in a top-quality roof rejuvenation solution crafted to greatly increase the life of
your roof for decades. This is a wise decision for those
aiming to protect their investment.
Why choose Shingle Magic Roof Sealer? To begin with, its proprietary formula seeps into the asphalt shingles, reviving their original
condition and appearance. Moreover, the sealer is
incredibly easy to apply, demanding minimal work for top results.
Besides Shingle Magic Roof Sealer extend the life of your roof, but it delivers superior defense against environmental damage.
From blistering sun, rainstorms, or winter
conditions, it will be safeguarded.
Furthermore, selecting Shingle Magic Roof Sealer indicates you’re choosing an environmentally friendly option. The
safe formula guarantees little environmental impact, making it a
thoughtful choice for your home.
To sum up, Shingle Magic Roof Sealer excels as the ultimate roof
rejuvenation solution. Its ability to increase
the life of your roof while delivering exceptional protection and
a environmentally friendly option makes Shingle Magic as the ideal choice for homeowners
seeking to maintain their property’s future.
Additionally, an important feature of Shingle Magic Roof Sealer is its affordability.
In lieu of spending a significant amount on constant repairs or a
full roof replacement, choosing Shingle Magic saves you money in the long run. It’s a financially
savvy choice that still delivers high-quality results.
Furthermore, the ease of application of Shingle Magic Roof Sealer is a major plus.
It doesn’t require expert skills to apply it. Whether you’re a DIY enthusiast or choose for professional installation, Shingle Magic ensures a seamless process
with remarkable results.
Shingle Magic’s longevity is yet another strong reason to choose it.
After application, it forms a protective barrier that
preserves the integrity of your shingles for a long time.
This means reduced worries about weather damage and more peace of mind
about the health of your roof.
Regarding appearance, Shingle Magic Roof Sealer is also superior.
Besides protecting your roof but also boosts its look. Shingles will seem refreshed, thus adding to the attractiveness and worth
to your property.
Customer satisfaction with Shingle Magic Roof Sealer is further evidence to its efficacy.
Many homeowners have experienced significant improvements in their roof’s condition after using the product.
Testimonials emphasize its ease of use, lasting
effects, and excellent protection.
To wrap it up, selecting Shingle Magic Roof Sealer means choosing a proven solution for roof rejuvenation. Combining sturdiness, visual appeal, economic efficiency, and ease of application makes it the optimal choice for anyone wishing to prolong the life and appearance of their roof.
Don’t wait to give your roof the care it deserves with Shingle Magic
Roof Sealer.
After I initially commented I seem to have clicked on the
-Notify me when new comments are added- checkbox and from now on whenever a comment
is added I recieve four emails with the same comment. There has to be a way
you can remove me from that service? Appreciate it!
My brother suggested I might like this website. He was once entirely right.
This post truly made my day. You cann’t imagine simply how a lot time I had
spent for this info! Thanks!
It’s the best time to make some plans for the longer term
and it’s time to be happy. I’ve learn this put up and if I may just
I wish to counsel you some attention-grabbing issues or tips.
Maybe you could write next articles referring to this
article. I wish to learn more issues about it!
Are you in need of a dependable solution to prolong the life of your roof?
Shingle Magic Roof Sealer is your solution. The exceptional product provides a unique standard of maintenance for your asphalt shingles, ensuring they remain durable.
With Shingle Magic Roof Sealer, you’re not just choosing
any ordinary product. You’re selecting a top-quality roof rejuvenation solution designed to greatly increase the life of your roof for decades.
Choosing Shingle Magic is a savvy move for those
aiming to safeguard their investment.
What makes Shingle Magic Roof Sealer? For starters, its proprietary formula gets into the asphalt shingles, reviving their initial strength and appearance.
Moreover, it is incredibly simple to use, needing minimal time for maximum
results.
In addition to Shingle Magic Roof Sealer prolong the life of your
roof, but it offers exceptional resistance to the elements.
Be it harsh sunlight, torrential downpours, or winter conditions,
it remains well-protected.
Moreover, choosing Shingle Magic Roof Sealer means you are selecting an green option. Its non-toxic makeup guarantees minimal environmental impact,
making it a thoughtful choice for eco-conscious homeowners.
In conclusion, Shingle Magic Roof Sealer excels as the best roof rejuvenation solution. Not only does it increase the life of your roof and delivering exceptional protection and being environmentally friendly option makes it as the
wise choice for homeowners looking to care for their
property’s future.
Moreover, a significant advantage of Shingle Magic Roof Sealer is its economic efficiency.
In lieu of spending a fortune on regular repairs or a full roof replacement, choosing Shingle Magic helps save you expenses in the long run. It’s a financially savvy choice that provides high-quality results.
Additionally, the simplicity of its application of
Shingle Magic Roof Sealer is a major plus.
There’s no need for specialized knowledge to apply it.
If you enjoy DIY projects or opt for professional installation, Shingle Magic ensures a straightforward process with excellent results.
Its longevity also serves as a compelling reason to choose it.
After application, it creates a shield that maintains the
integrity of your shingles for years. This means less worry
about weather damage and greater peace of mind about the health of your roof.
Regarding visual appeal, Shingle Magic Roof Sealer also stands out.
Besides protecting your roof but also boosts its look. Shingles will seem newer, adding curb appeal and value to your property.
Satisfaction with Shingle Magic Roof Sealer is another testament to its quality.
Many customers have seen remarkable improvements in their roof’s
condition after using the product. Testimonials underscore its simplicity, longevity,
and outstanding protection.
To wrap it up, selecting Shingle Magic Roof Sealer is choosing a proven solution for roof rejuvenation. With its blend of durability, visual appeal,
economic efficiency, and simplicity positions it as
the perfect choice for those looking to enhance the
life and beauty of their roof. Act now to give your roof the care it deserves with Shingle Magic Roof
Sealer.
Amazing! Its in fact awesome post, I have got much clear
idea on the topic of from this post.
Greate article. Keep posting such kind of info on your page.
Im really impressed by your blog.
Hello there, You’ve performed an incredible job.
I’ll definitely digg it and in my opinion suggest to my friends.
I’m sure they will be benefited from this web site.
When someone writes an post he/she keeps the plan of a user in his/her mind that how a user can be aware of it.
Therefore that’s why this article is perfect. Thanks!
I really like your blog.. very nice colors & theme. Did you make
this website yourself or did you hire someone to do it for you?
Plz answer back as I’m looking to design my own blog and would
like to find out where u got this from. many thanks