Danish court sentences Briton to 6 years of prison in sham trading case

The charges are connected to the broader, so-called "cum-ex" trading scheme, in which the Danish state says it lost more than 12.7 billion crowns. The main suspect in the case, Briton Sanjay Shah was extradited to Denmark from Dubai in December.

A Briton charged with defrauding Danish tax authorities of more than 320 million Danish crowns ($46.7 million) in a sham trading scheme to make double tax reclaims has been sentenced to six years in prison, a Danish court said on Friday.

Danish prosecutors in 2021

brought preliminary criminal charges against Guenther Klar, 54, along with two other British and three U.S. citizens for defrauding tax authorities of more than 1.1 billion crowns. Klar had denied any wrongdoing, the court said in a statement. His lawyer was not immediately available for comment when contacted by Reuters by phone and email.

Klar was extradited to Denmark from Belgium in June of last year. The charges are connected to the broader, so-called "cum-ex" trading scheme, in which the Danish state says it lost more than 12.7 billion crowns.

The main suspect in the case, Briton Sanjay Shah was extradited to Denmark from Dubai in December. Shah also denies any wrongdoing. ($1 = 6.8509 Danish crowns)

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