A British hedge fund trader extradited from the United Arab Emirates to Denmark where he was wanted for allegedly orchestrating a more than 9 billion kroner ($1.3 billion) tax fraud, was ordered Thursday to remain in pre-trial custody until Jan. 3.
Sanjay Shah was convicted in May in Dubai of masterminding a scheme that ran from 2012 to 2015 in which foreign businesses pretended to own shares in some of Denmark's largest companies, including pharmaceutical giant Novo Nordisk, shipping company A.P. Moeller, windmill maker Vestas and the Carlsberg brewery. He claimed tax refunds for which they were not eligible.
