The United Arab Emirates' highest court Tuesday ordered a British hedge fund trader convicted of orchestrating a $1.7 billion tax fraud to pay that amount to Denmark's tax authority.
Financier Sanjay Shah was convicted in a lower court of masterminding a scheme that ran from 2012 to 2015. Under it, foreign businesses pretended to own shares in Danish companies and claimed tax refunds for which they were not eligible. He was arrested in Dubai last year.
