Alleged accomplices of Sanjay Shah, the founder of Solo Capital Partners, LLP, accused in a NOK9bn ($1.3bn) Danish tax fraud probe have agreed to pay between €30,000 and €100,000 to end the cases against them, according to a report by Bloomberg.
Quoting unnamed sources familiar with the matter, the report said that proceedings against three other accused, including Shah will continue. Shah faces 55 counts of money laundering for channelling funds obtained by Cum-Ex deals in Denmark and Belgium via German accounts.
Cum-Ex schemes are a controversial tax-driven which exploits the way dividend tax is collected so that multiple investors could claim refunds on a tax that was only paid once.
