Sanjay Shah’s $1.3 billion tax fraud
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Sanjay Shah, a British hedge fund trader, was found guilty in Denmark for masterminding a massive tax fraud scheme known as the “Cum-Ex” scandal, which defrauded the Danish government of over $1.3 billion between 2012 and 2015. Using fake dividend refund claims through companies he controlled, Shah orchestrated one of the biggest financial crimes in European history, leading to a 12-year prison sentence — the harshest ever for a financial offense in Denmark. The case has since sparked global conversations on tax transparency, financial regulation, and cross-border justice.
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