British man has been arrested in Dubai over a £1.3 billion tax fraud case.
The suspect, identified as Sanjay Shah, is wanted in Denmark over allegations of financial fraud.
“We will push for an extradition as soon as possible,” Danish Foreign Minister Jeppe Kofod said in a tweet on Friday.
In a statement, Dubai police Brig Gen Jamal Al Jallaf said the emirate had received an international arrest warrant from Denmark for Shah.
Mr Al Jallaf said the Briton, 52, was accused of fraud that saw foreign businesses pretend to own shares in Danish companies and claim tax refunds for which they were not eligible. Shah has maintained his innocence while living in Dubai over the last few years.
“The fraud scheme, known as ‘cum-ex’ trading, involved submitting thousands of applications to the Danish Treasury on behalf of investors and companies from several countries around the world in order to receive dividend tax refunds,” he said.
Denmark’s justice and foreign ministries said the country’s prosecutors had been pursuing Shah since 2015.
“The Danish Treasury has been cheated for a staggering amount, and of course it should not be possible for suspected perpetrators to hide in the Middle East and thus avoid being held accountable in a Danish courtroom,” Justice Minister Mattias Tesfaye said.
“Now I am awaiting the legal process in the United Arab Emirates, and crossing my fingers that it will end up that we can get Sanjay Shah on a plane to Denmark, so he can be prosecuted in this country.”
Danish broadcaster DR reported that a judge will soon decide whether Mr Shah can be given to Danish authorities.
It is not immediately clear whether Shah has a local lawyer, and no court date for an extradition hearing has been set.
The Standard has attempted to contact Mr Shah for comment.