A British hedge fund trader has been sentenced to 12 years in prison in Denmark, after being found guilty of orchestrating a tax fraud that cost the Danish government more than £1bn.
It is the heaviest penalty ever given out in Denmark for a fraud case.
In addition to the prison term, financier Sanjay Shah, who was the founder of London-based hedge fund Solo Capital Partners, received a permanent entry ban to Denmark and will have assets worth $1bn (DKK 7.2bn) seized, as well as a string of properties.
He immediately appealed the decision on the spot. But will remain in custody.