British Trader On Trial In Denmark For Massive Fraud

British businessman Sanjay Shah, seen in a courtroom sketch here, is accused of running a nine-billion-kroner ($1.32-billion) scam that enabled companies he controlled to fraudulently claim Danish tax refunds (Credit: AFP)

A British hedge fund trader accused of defrauding Danish tax authorities in a billion-dollar scam went on trial in Copenhagen on Monday, with the government hoping to recover the money in the blockbuster case.

Sanjay Shah, who was arrested in June 2022 in Dubai where he was living, is accused of running a nine-billion-kroner ($1.32-billion) scam that enabled companies he controlled to fraudulently claim Danish tax refunds between 2012 and 2015.