Wednesday’s decision on custody in absentia could be part of the process of a possible extradition of the men to the criminal case. They live in Dubai and the UK respectively.
But the process must wait until the Eastern High Court has ruled on the question of imprisonment or not.
The criminal case must be heard by the Court in Glostrup. There are no days set aside in the calendar yet. 60 court hearings may be needed.
– An estimate can realistically happen in 2022, one of his defenders, lawyer Henrik Stagetorn, said in Wednesday’s court hearing.
In the Bagmandspolitiet, special prosecutor Marie Tullin declares herself satisfied with the decision on custody.
– With today’s ruling, we have come a step further in the process, where the goal is that the case itself can be heard and decided by a court here in Denmark, she says in a written statement.
Sanjay Shah is charged with fraud with a loss to the Treasury of nine billion kroner, while Patterson is accused of complicity in fraud with regard to 8.9 billion. In addition, they must have tried to score an additional 553 million kroner, it is claimed.
Shah has stated to the daily newspaper Børsen that he would like to appear for the case in Denmark. But on Wednesday, the city court assesses that there is reason to believe that the two men will not appear in the case – and therefore they are in custody.
Both plead not guilty. However, the city court has now ruled that there is a reasonable suspicion.
It is about the men having committed the gross fraud in a closed trading system where there were circular trades in shares that they did not own. It took place under the auspices of Solo Capital and two other companies.
The fraud must have taken place from 2012 to 2015. In total, the Treasury lost DKK 12.7 billion in fraud with regard to the refund of dividend tax, the tax authorities have established.
So far, a single verdict has been handed down. In 2019, the German bank North Channel Bank was fined DKK 110 million.
The bank helped with the fraud. It created a system in which fictitious stock and money movements were recorded. The information was then misused by customers who, on behalf of so-called American pension plans, led the Danish authorities behind the light.
Source: The Nordic Page