British hedge fund trader goes on trial in Denmark accused of £1bn fraud

Sanjay Shah accused of scam that enabled companies he controlled to fraudulently claim tax refunds

A British hedge fund trader accused of defrauding Danish tax authorities in a billion-pound scam has gone on trial in Copenhagen, with the government hoping to recover the money in the blockbuster case.

Sanjay Shah, who was arrested in June 2022 in Dubai where he was living, is accused of running a 9bn krone (1.03bn) scam that enabled companies he controlled to fraudulently claim Danish tax refunds between 2012 and 2015.