A Danish court orders a British financier to remain in pre-trial custody on tax fraud

COPENHAGEN, Denmark (AP) — A British hedge fund trader extradited from the United Arab Emirates to Denmark where he was wanted for allegedly orchestrating a more than 9 billion kroner ($1.3 billion) tax fraud has been ordered to remain in custody until his Jan. 3 trial. Sanjay Shah was convicted in May in Dubai of masterminding a scheme in which foreign businesses pretended to own shares in some of Denmark’s largest companies, including pharmaceutical giant Novo Nordisk. He claimed tax refunds for which they were not eligible. The Glostrup District Court in suburban Copenhagen said Shah should be remanded in custody because he’s a flight risk. His lawyer, Kåre Pihlmann, said Shah had not decided whether to appeal.