Scandal of the century in London: the Danish tax authority SKAT lost a court case worth a staggering £1.44 billion.
The main character is British trader Sanjay Shah. His fund Solo Capital siphoned money through a cunning cum-ex scheme, obtaining tax refunds on dividends that... never existed.
And you know what? The court said: 'Well, yes, they were tricky, but did they deceive you specifically?'
And that’s it. Denmark is left with nothing.
How the scheme worked In short:
1. Dividend papers were shuffled back and forth.
2. The papers got so tangled that the tax authority saw 'payment' where there was none.
3. Tax officials returned money. A lot of money. Very much.
And when Denmark woke up, the bill was already in the billions.
The judicial stunt of the century
12 years in prison is what Shah has already received in Denmark.
But in London, the judge said: 'SKAT is to blame — there was almost no control, zero checks.'
Result: Denmark does not receive compensation.
In fact, the state recognized itself as a victim of its own naivety.
A bitter lesson! If even the tax machinery of an entire country can so incompetently sleep through a billion-dollar scam — what can be said about ordinary investors?
Today they promise you mountains of gold — tomorrow you are left with an empty wallet and the phrase: 'Well, you agreed yourself!'
We live in times when you can't trust anyone: neither the 'genius traders', nor loud brands, nor even government agencies.
Schemes are becoming increasingly cunning, and the 'victims' are getting larger.
And while some make millions from loopholes, others continue to believe that 'such a large organization cannot deceive'.
Naivety is the most expensive asset.
And it is always ready to be bought from you.
