Sanjay Shah Sentenced to 12 Years, Assets Seized

British hedge fund trader Sanjay Shah has been sentenced to 12 years in prison by a Danish court for defrauding Denmark of over $1.2 billion through a complex 'cum-ex' tax scheme, marking one of the longest sentences for tax fraud in Denmark's history. Shah was found guilty of orchestrating a scam that involved sham dividend tax refund applications, which he argued were legal loopholes. Despite his denial of wrongdoing, Shah played a central role in the scheme that drained billions from public treasuries across Europe. Alongside the prison sentence, Shah will have assets worth $1 billion seized and is banned from entering Denmark permanently. He has appealed the verdict and faces a separate civil tax fraud case in London. Shah was extradited from Dubai, where he was known for his lavish lifestyle, to Denmark to face trial.