Dubai upholds extradition of financier accused of fraud

DUBAI, United Arab Emirates (AP) — A court in Dubai has rejected the appeal of a British financier fighting extradition to Denmark, where he is accused of orchestrating a $1.7 billion tax fraud. Hedge fund trader Sanjay Shah is accused of masterminding a scheme that ran from 2012 to 2015 in which foreign businesses pretended to own shares in Danish companies and claimed tax refunds for which they were not eligible. He was arrested in Dubai, in the United Arab Emirates, last year. The lower court had said documents implicated him in fraud and money laundering, allegations he has denied. It was not immediately clear when he would be extradited. His lawyers could not immediately be reached for comment.