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April 2, 2017

The law firm Lundgrens in Hellerup has been hired by an American law firm to take care of the interests of wealthy Americans in a giant Danish tax fraud scandal.

Danish tax is suspecting that rich Americans have got their hefty share of yields from a case of alleged fraud with dividend tax.

According to Danish Television (DR) between 2 and 5 billion DKK out of totally 12,3 billion DKK in the case of alleged fraud with the refunding of dividend tax seemingly ended up with American pension funds and their owners. Most of the pension funds in question are the so called one-man pension schemes named ‘401k-plans’.

These pension schemes are a particular American phenomen. They can be set up within a few minutes, and according to DR they are by and large unregulated by US authorities.

According to documents available to reporters at DR, the American pension funds have been customers at four brokerage firms in London, that all of them are owned by the British financier Sanjay Shah. He is the main suspect in the alleged fraud case.

The Americans involved in this case are seemingly aware, that they are being scrutinized by Danish authorities or risking being scrutinized.

DR reports at its news site, that some of them hired the great American law firm Arnold & Porter Kaye Scholer to defend them.

This again led to the American law firm then hiring the Danish law firm Lundgrens in Hellerup to maintain its interests in the case.

Both the American and the Danish law firm are declining from commenting on the staggering Danish tax fraud scandal amounting to 12,3 billion DKK, DR reports.



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