Sanjay Shah is an international swindler who literally plundered Danish Tax authority for 12.7 billion Kroner or about 2 billion USD from 2012 to 2015. He got refunded the tax money what he never paid.
The New Times brought the story with a question mark ”Where in the World Is Denmark’s $2 Billion?” I have answered the question here
Despite over 300 lawsuits in many countries, it has not been possible to get any money home yet. In a recent press conference, the Danish minister of the tax says that the legal cost of the case has been 2 billion Kroner or 300 million USD. They expect to get 6 billion Kroner home.
Skat (Danish tax authority) has frozen 2.7 billion kroner in Germany and some millions in the USA. Skat can trace 8 billion Kroner out of 12.7 billion. 5.7 billion Kroner (900 million USD) is missing.
Now the question is: where is the 900 million USD?
Sanjay Shah was arrested in October 2018 in Dubai for issuing a bounced check. That means Sanjay Shah does not have money in the bank.
Where has he hidden the stolen money?
One of the most wanted men in the world Dawood Ibrahim escaped from India to Dubai with 15 thousand crore Rupees ( more than 2 billion USD). Indian government succeeded to seize the money and bring them home to India.
Unlike Denmark, India has not indicted anyone. The Indian prime minister Narendra Modi talked to the ruler of Dubai. He sent his foreign minister to Dubai for negotiations.
SKAT has taken only judicial measures. The judicial process is slow and ineffective in the UAE. Maktoum family rules UAE. Rashid Al Maktoum is like a king of Dubai. He is the prime minister. He is the judge. He is all in all.
India carried out its mission in a smart way. Instead of involving in a complicated and expensive judicial fight, they approached the ruler of Dubai.
Daud Ibrahim placed his money in the real estate market of Dubai. India could confiscate the money and got their 2 billion USD.
On the other hand, Denmark is struggling with the judicial process. They already have spent 300 million USD. They have recently got 17 million documents in the case.
The Danish government should have acted the way India did. They could do a diplomatic process and talk directly with Rashid Al Maktoum.
Dubai has become a haven for money laundering. All swindler, drug dealers, and economic criminals are choosing Dubai over Costa del Sol.
It is easier to convert black money into white. Banks in Dubai are not obliged to give information about suspicious transactions. Dubai real estate is the popular destination of all types of illegal money
Denmark’s missing money could be found there