COPENHAGEN (Reuters) - Denmark s state prosecutor said on Tuesday it had charged six people from the United States and Britain with defrauding Danish tax authorities of more than 1.1 billion crowns ($176 million) in a sham trading scheme.
The charges against three U.S. and three British citizens are connected to the so-called cum-ex trading schemes, in which the Danish state has lost more than 12.7 billion crowns in total.
In January, Denmark charged two UK citizens, bringing the total number of people charged to eight.
They are suspected of running a scheme that involved submitting applications to the Danish Treasury on behalf of investors and companies from around the world to receive dividend tax refunds, the prosecutor said.
Denmark charges another six, from U S , UK, over tax fraud scheme
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Denmark charges another six, from U S , UK, over tax fraud scheme
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COPENHAGEN Sanjay Shah, a Briton charged with defrauding Danish tax authorities in a sham trading scheme, is suspected of pocketing as much as 7 billion Danish crowns ($1.14 billion), local media reported on Wednesday, citing indictment papers.
Danish prosecutors this month charged two British citizens – whom they did not name – with serious fraud after four years of investigations into so-called “cum-ex” trading schemes, in which the state has lost more than 12.7 billion crowns in all.
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Try refreshing your browser, or Cum-ex defendant swindled Denmark out of $1 bln, prosecutor says Back to video
Hedge-Fund Founder Charged in $1.6 Billion Cum-Ex Probe
Bloomberg 1/7/2021 Frances Schwartzkopff, Morten Buttler and Ellen Milligan
(Bloomberg) Sanjay Shah, who founded a London hedge fund that specialized in controversial Cum-Ex trades, was charged by Danish prosecutors in a 9.6 billion-krone ($1.6 billion) tax-fraud probe, according to a person familiar with the case.
Two British citizens, including one who lives in Dubai, were charged, a Danish prosecutor said Thursday in a statement. Shah, who lives in Dubai, is one of the two people targeted in the indictment, according to the person, who declined to be identified because the process is confidential. © Bloomberg The Unemployed Trader Who Became a $700 Million Cum-Ex Exile