Sanjay Shah's $19 Million Home in London Seized in Tax Fraud Case

Former trader and fund manager Sanjay Shah alleged to have illegally gotten over $2 billion in tax refunds

This article is being re-published since Global Indian Times has also begun posting on Substack.

February 12, 2020

Danish police took over the Hyde Park mansion of Sanjay Shah, a multimillionaire British businessman accused of defrauding Denmark of nearly $2 billion. According to news reports, a spokesman for Shah, who lives in Dubai, confirmed that his house had been seized.

From 2012 to 2015, Shah allegedly used fake documents to fraudulently claim multiple tax refunds on dividends of shares of Danish companies. At least $1 billion is alleged to have been diverted to Solo Capital, Shah's hedge fund. It closed in 2016.

News outlets in Europe uncovered a tax fraud scheme in which banks, stock brokers, and lawyers obtained billions from the German, French, and Danish treasuries. 

For more coverage of the case in the British media go to this Guardian story.

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