COPENHAGEN, July 5 — A second Briton charged with defrauding Danish tax authorities in a sham trading scheme to make double tax reclaims was extradited from Britain to Denmark yesterday, Danish police said.
The charges against hedge fund trader Anthony Mark Patterson, 52, are related to the so-called “cum-ex” trading schemes in which the Danish state lost more than 12.7 billion crowns (RM6.8 billion) in total.
Denmark’s state prosecutor in 2021 charged eight UK and US citizens with submitting applications to the Danish Treasury on behalf of investors and companies from around the world to receive dividend tax refunds.
Patterson was charged in his absence with participating in a scheme in which the Danish state lost more than 9 billion crowns, and with attempted fraud for around 500 million crowns more.
Patterson’s lawyer said in an email his client denied any wrongdoing.
Another British suspect in the case was extradited to Denmark from Belgium in June.
Danish police said in a statement late yesterday that the key suspect in the case, Briton Sanjay Shah, 52, remained in Dubai. Shah, who has denied any wrongdoing, was arrested in June 2022 by Dubai police following a request by Denmark for his extradition.
The “cum-ex” schemes, which flourished after the 2008 global financial crisis, involved banks and investors swiftly dealing shares around dividend payout days, blurring stock ownership and allowing multiple parties to claim tax rebates.
A court will decide today whether Patterson will be remanded in custody pending trial, police said. — Reuters
