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AMERICAN FINANCIAL COMPANY ACKNOWLEDGES COLLABORATION WITH MAIN SUSPECT IN DANISH BILLION TAX FRAUD CASE, NEWS OUTLET REPORTS

April 1, 2017

British financier Sanjay Shah had the company Broad Financial situated in Morsey in the North of New York establishing a long row of one-man pension funds, that were used in siphoning off billions of DKK from Denmark.

At Broad Financial an employee confirms, that the company in 2014 was approached by the British financier Sanjay Shah. Today he is the main suspect in an extensive case, where Danish tax is claiming to have been cheated out of 12,3 billion DKK. This according to a news outlet on March 26.

Sanjay Shah had a team in the US, that wanted the financial company to establish pension schemes for customers they were collaborating with. This according to the company’s assisting director.
The task concerned the so called one-man 401k-plans, a particular US type of pension schemes.

According to documents available in the case at least 189 US pension schemes are involved in the case, many of those are precisely of the type 401k-plans.

Among other things Broad Financial assisted wealthy Americans in Texas, New Jersey and Missouri in establishing 401k-plans.
The wealthy Americans were customers at Sanjay Shah’s brokerage firms in London, Solo Capital Partners, Old Park Lane Capital, Telesto Markets and West Point Derivatives.

Almost all of the pension funds were set up during the last part of
2014 and the beginning of 2015, precisely the period, when the alleged fraud against Danish tax, Skat, exploded. Many of the pension schemes winded up, when the fraud case emerged in August 2015.

According to unnamed sources it seems possible that between 2 and 5 billion of totally 12,3 billion DKK in the alleged fraud case about unjustified refunding of dividend tax ended up with American pension funds and their owners.

SOURCE:

https://www.google.dk/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=0ahUKEwjV2MmF24PTAhXFKJoKHQ5MBwAQFggZMAA&url=http%3A%2F%2Fwww.dr.dk%2Fnyheder%2Fpenge%2Famerikansk-finansfirma-erkender-samarbejde-med-hovedmistaenkt-i-milliardsvindel&usg=AFQjCNHSOQTEUwOBnMetzRJMud-mpq7Rng&bvm=bv.151325232,d.bGs

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