The process of extraditing hedge fund trader Sanjay Shah from the UAE to Denmark to face trial over an alleged $1.7 billion tax fraud is set to begin, a UAE official said on Wednesday.
The two countries signed an extradition treaty in March 2022 and the official said this was “fully ratified and enshrined” in UAE law.
"We note the decision by the Dubai Court of Cassation to reject the appeal of Sanjay Shah, a British national wanted by Danish authorities," the official said.
“The extradition process will now begin."
This year, 30 extradition requests to the UAE have been approved relating to international suspects and other relevant people, the official said.
Mr Shah, who lived on The Palm Jumeirah, is accused of being the central player in a scheme in which foreign businesses pretended to own shares in Danish companies and claimed tax refunds for which they were not eligible.
Mr Shah has previously denied the charges and said he was operating within Danish law.
On Monday, the Dubai Court of Cassation upheld a ruling by the emirate's Court of Appeal to grant Denmark’s request for Mr Shah's extradition. He will face charges of fraud and money laundering.
Mr Shah's lawyer, Ali Al Zarouni, said his client was considering filing an appeal to the chief justice of the Court of Cassation.
“Although we are not content with the verdict, this is law,” Mr Al Zarouni told The National.
“However, there is a possibility that we submit an application to the chief justice of the Dubai Court of Cassation to request reconsidering the case.
“But this application would not halt extradition procedures which are now pending approval of the UAE’s Minister of Justice."
The UAE has 44 extradition treaties in place, of which 37 of which are fully ratified, the UAE official said.
The country also has 45 bilateral mutual legal assistance agreements in place.
“The UAE is committed to honouring the letter and spirit of each of these treaties and agreements,” the official said.
“The guiding principle of each is to prevent crime on the basis of mutual respect for the sovereignty of both countries, strengthening co-operation in combating serious crimes, including organised crime, and ensuring that criminals are not denied justice.”
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UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Tomorrow 2021
The national orchestra
Squid Game season two
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Stars: Lee Jung-jae, Wi Ha-joon and Lee Byung-hun
Rating: 4.5/5
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Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
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Price: base / as tested: Dh91,000 / Dh114,000
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Gearbox: Eight-speed automatic
Power: 298hp @ 6,600rpm
Torque: 356Nm @ 4,700rpm
Fuel economy, combined: 7.0L / 100km
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The specs: Volvo XC40
Price: base / as tested: Dh185,000
Engine: 2.0-litre, turbocharged in-line four-cylinder
Gearbox: Eight-speed automatic
Power: 250hp @ 5,500rpm
Torque: 350Nm @ 1,500rpm
Fuel economy, combined: 10.4L / 100km
What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
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Country-size land deals
US interest in purchasing territory is not as outlandish as it sounds. Here's a look at some big land transactions between nations:
Louisiana Purchase
If Donald Trump is one who aims to broker "a deal of the century", then this was the "deal of the 19th Century". In 1803, the US nearly doubled in size when it bought 2,140,000 square kilometres from France for $15 million.
Florida Purchase Treaty
The US courted Spain for Florida for years. Spain eventually realised its burden in holding on to the territory and in 1819 effectively ceded it to America in a wider border treaty.
Alaska purchase
America's spending spree continued in 1867 when it acquired 1,518,800 km2 of Alaskan land from Russia for $7.2m. Critics panned the government for buying "useless land".
The Philippines
At the end of the Spanish-American War, a provision in the 1898 Treaty of Paris saw Spain surrender the Philippines for a payment of $20 million.
US Virgin Islands
It's not like a US president has never reached a deal with Denmark before. In 1917 the US purchased the Danish West Indies for $25m and renamed them the US Virgin Islands.
Gwadar
The most recent sovereign land purchase was in 1958 when Pakistan bought the southwestern port of Gwadar from Oman for 5.5bn Pakistan rupees.
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Zidane's managerial achievements
La Liga: 2016/17
Spanish Super Cup: 2017
Uefa Champions League: 2015/16, 2016/17, 2017/18
Uefa Super Cup: 2016, 2017
Fifa Club World Cup: 2016, 2017
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Men’s:
Mohamed El Shorbagy (EGY)
Ali Farag (EGY)
Simon Rosner (GER)
Tarek Momen (EGY)
Miguel Angel Rodriguez (COL)
Gregory Gaultier (FRA)
Karim Abdel Gawad (EGY)
Nick Matthew (ENG)
Women's:
Nour El Sherbini (EGY)
Raneem El Welily (EGY)
Nour El Tayeb (EGY)
Laura Massaro (ENG)
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The Library: A Catalogue of Wonders
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Global state-owned investor ranking by size
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1. |
United States |
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2. |
China |
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3. |
UAE |
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4. |
Japan |
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5 |
Norway |
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6. |
Canada |
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7. |
Singapore |
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8. |
Australia |
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9. |
Saudi Arabia |
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10. |
South Korea |
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The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.
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