Dubai Court Rejects Sanjay Shah’s Final Appeal In The Tax Fraud Case

The British-Indian National, Sanjay Shah is in troubled waters for the time being. The Dubai Court of Cassation has finally rejected his appeal and therefore, agreed to the request for extradition by the Danish authorities. He has been charged with committing money laundering and tax fraud under the Denmark laws. According to the latest judgment, Mr. Sanjay Shah could soon be extradited to Denmark. He has been involved in this controversy for a year and has been hiding in Dubai. Initially, the Dubai Government rejected Denmark’s request to extradite Mr. Sanjay but the tables have turned now.

The entire process to deport Mr. Sanjay Shah from Dubai to Denmark will be governed by the law of extradition. It is an aspect of international law and is governed by the agreements and treaties executed between the countries.

The Government of Dubai has already signed a treaty of extradition with the Government of Denmark. The latter had to prove the grounds for extraditing Mr. Sanjay Shah and according to the recent judgment of the Dubai Court of Cassation, these grounds have been well established. It will be interesting to witness the future course of action as Mr. Sanjay Shah is left with no legal remedy under the laws now.

Mr. Sanjay Shah is being tried for executing a masterminding scam in Denmark

Sanjay Shah has been accused of committing a scam that continued for almost three years in Denmark in the year of 2012. He devised a scheme to defraud the banks, financial institutions, and the general public of Denmark.

He issued various bonds in form of an application that was to be subscribed by the investors such as companies, banks, body corporates, partnerships, and individuals. He falsely encouraged such subscriptions by manipulating the returns and books of accounts.

According to the statement of the Dubai Police, he also submitted the subscribed application to the Danish Treasury to obtain a loan. Therefore, he used these fake applications as collateral to receive debt from the official Danish Treasury. 

Shah soon defaulted in the repayment of the loan in the prescribed time and when the Danish authorities decided to realize the amount against the collateral, the applications were not backed by securities and assets. Therefore, he not only siphoned off the investments of the investors received against the issuance of the applications but also deceived the Danish Treasury to obtain huge loans. Until now, this has been one of the largest frauds in the history of Denmark.

Mr. Sanjay Shah has also been collecting dividends, and evading taxes, and has been held liable under the security laws of Denmark for the non-disclosure of financial information as required by the law. Ever since then, the Danish authorities have begun searching for him and he escaped to Dubai.

The Government of Denmark initially requested the Dubai Government to extradite Mr. Sanjay Shah but the request was turned down at once. Mr. Sanjay Shah rather applied to the Dubai Court to seek protection against extradition to Denmark as he expressed a possibility of being politically persecuted in that place. Based on the evidence, pleadings, and hearings of the parties, the Attorney General of the Dubai Court ordered Shah’s extradition.

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He has rather adjudged a fugitive economic offender. The Court ordered the Dubai Government to negotiate the terms of the extradition with the Danish authorities as soon as possible. The Attorney General concluded by stating that Dubai can never become a haven for protecting and shielding these offenders. 

Mr. Sanjay Shah appealed against the decision in the Dubai Court of Cassation. After evaluating the material evidence and arguments of both parties, the Chancellor of the Court rejected his appeal and upheld the decision of extradition of the Dubai Court.

The 52-year-old has also been ordered to compensate the Danish authorities for the fraud he has committed. The Court has also ordered the cancellation of his license through which he traded in Dubai. The Dubai Police has finally arrested him. The Danish authorities have expressed their gratitude to the officials in Dubai for having taken the right decision.

Sanjay Shah has no remedy left than to surrender before the Court of law. He has exhausted all the legal and the non-legal remedies and the Government has shattered all his expectations so far. The discussions between the two countries to decide the details of extradition are now underway. This would be soon finalized and notified.

For the time being, Sanjay Shah is being held under tight security. The Dubai Government has taken complete responsibility to extradite Shah to Denmark despite all the odds. Shah will now be prosecuted under Danish laws once he reached Denmark.