Dubai approves extradition of financier accused of tax fraud

DUBAI, United Arab Emirates (AP) — A court in Dubai has approved the extradition to Denmark of a British financier accused of orchestrating a $1.7 billion tax scheme. Hedge fund trader Sanjay Shah is accused of masterminding a scheme that ran from 2012 to 2015 in which foreign businesses pretended to own shares in Danish companies and claimed tax refunds for which they were not eligible. Shah was arrested in Dubai earlier this year following a request from Danish authorities. In September, he was ordered to pay $1.25 billion to Denmark’s tax authority as part of a civil case in Dubai. Shah has denied wrongdoing, and his lawyer said they would appeal the extradition ruling.