Sanjay Shah claimed that he was only using legal tax loopholes, where dividend income is taxed differently in various jurisdictions.
16 Facts About Sanjay Shah
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Sanjay Shah was extradited to Denmark in December 2023 to face trial.
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In February 2025, Sanjay Shah was charged in Germany over CumEx deals.
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Sanjay Shah founded the hedge fund firm Solo Capital in London, which employed "more than 100 financial experts across offices in London and Dubai".
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Sanjay Shah started the firm after the trading desk he was previously working at Rabobank closed its dividend arbitrage desk due to the financial crisis.
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Sanjay Shah was investigated in regards to tax fraud and Solo Capital closed in 2016, amid the investigation by Danish authorities, while his London home and offices were raided by the British National Crime Agency, and Varengold Bank was raided by German authorities.
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Sanjay Shah was investigated in regards to the case in 2015.
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Sanjay Shah is the prime suspect in similar alleged tax fraud cases involving more than 200 million euros in Belgium and 65,000 euros in Norway respectively.
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Sanjay Shah remains the main suspect in the main tax fraud case.
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In November 2019, British and Danish authorities reached an agreement that the main prosecution against Sanjay Shah should take place in a Danish court of law, and both countries support his extradition from Dubai to Denmark.
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On 31 May 2022 Sanjay Shah was arrested in Dubai to face trial for potential extradition to Denmark.
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On 12 September 2022 the judge of the case ruled that Sanjay Shah wouldn't be extradited to Denmark, due to a lack of documents regarding the investigation.
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On 13 December 2024, Sanjay Shah was sentenced to 12 years' imprisonment, the longest recorded for a financial crime in Danish history.
14.
In February 2024, Anthony Patterson, a British trader hired by Sanjay Shah, admitted in part to charges of complicity in serious fraud, and was sentenced to eight years in prison by a Danish court.
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The trial, which lasted several months, focused on Sanjay Shah's alleged masterminding of a cum-ex scheme between 2012 and 2015.
16.
In February 2025, Sanjay Shah was charged in Germany over CumEx deals.