British hedge fund trader Anthony Mark Peterson will admit to his part in a scheme that defrauded the Danish tax authorities of more than DKK9bn ($1.2bn) when his case is heard in court later this month, according to a report by Reuters.
The report quotes Patterson’s lawyer, Henrik Stagetorn as saying: “There will be a court hearing in February where he plans to confess.”
Patterson, who had initially denied any wrongdoing, has been charged with participating in an attempted fraud over an additional DKK500m.
The case stems from a Danish investigation into so-called “cum-ex” trading by London-based hedge fund Solo Capital Partners with the firm’s Founder and the main suspect in the case, Briton Sanjay Shah, currently in detention in Denmark, having been extradited from Dubai in December. Shah denies the charges against him.
Another Briton, Guenther Klar, was jailed for six years by a Danish court for defrauding tax authorities of more than DKK320m crowns as part of the same scheme, but has also denied wrongdoing and is appealing against his verdict.
