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.”
