Denmark loses 'cum-ex' case against trader Shah in UK court
( October 2, 2025, 10:54 GMT | Official Statement) -- MLex Summary: Denmark's tax authorities have lost a £1.4 billion tax fraud case it brought against a hedge fund owned by Sanjay Shah over the sprawling "cum-ex" scandal. A judge at London's High Court said that Denmark had failed to prove its case against the trader and others. Shah was convicted in Denmark over the scheme and handed a 12-year prison sentence, which he has appealed. The judgment is attached below....
Prepare for tomorrow’s regulatory change, today
MLex identifies risk to business wherever it emerges, with specialist reporters across the globe providing exclusive news and deep-dive analysis on the proposals, probes, enforcement actions and rulings that matter to your organization and clients, now and in the longer term.
Know what others in the room don’t, with features including:
- Daily newsletters for Antitrust, M&A, Trade, Data Privacy & Security, Technology, AI and more
- Custom alerts on specific filters including geographies, industries, topics and companies to suit your practice needs
- Predictive analysis from expert journalists across North America, the UK and Europe, Latin America and Asia-Pacific
- Curated case files bringing together news, analysis and source documents in a single timeline
Experience MLex today with a 14-day free trial.