If the fraud-accused Sanjay Shah is convicted by the Court in Glostrup, the prosecution believes that he should lose a wide range of assets. This concerns both amounts of money and properties, according to a document that Børsen has seen. (Archive photo). Photo: Christopher Pike/Ritzau Scanpix
Sanjay Shah risks losing billions in assets
If convicted of dividend tax fraud, Danish authorities intend to seize up to three billion kroner in assets from Sanjay Shah, as stated by Børsen based on court documents. Among the assets are properties in London, including an apartment bought for 101 million kroner, now valued at 125 million kroner. The trial against the British citizen accused of defrauding Denmark’s treasury of nine billion kroner is set to start shortly. Shah, extradited from the UAE and currently in custody, denies all charges, claiming exploitation of loopholes in the tax law. His associate, Anthony Mark Patterson, has confessed to his involvement, receiving an eight-year prison sentence.