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Sanjay Shah

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businesstechnology2 years ago•2 min saved

Tech CEO's Tragic Stage Fall Claims Life at Company's Anniversary Celebration

Sanjay Shah, CEO of Vistex, a Chicago tech firm, died in a tragic stage fall during the company's 25th anniversary celebration in India. The accident occurred when a faux hot air balloon carrying Shah and the company's president collapsed, causing them to fall about 20 feet to the stage below. Shah, an Indian immigrant who founded Vistex in 1999, was known for his philanthropy and as the former owner of the Trump Tower penthouse in Chicago. He had built Vistex into an international company with over 2,000 employees and $250 million in annual revenue.

via Chicago Tribune|

#businesstechnology #chicago #india

crime2 years ago•3 min saved

Sanjay Shah, British Trader, Extradited to Denmark for Massive Tax Fraud

Sanjay Shah, a British hedge fund trader, has been extradited from the United Arab Emirates to Denmark to face charges of defrauding Danish taxpayers of $1.3 billion. Danish authorities allege that Shah and his colleagues at Solo Capital in London orchestrated a scheme to siphon money from the country's tax refunds on stock dividends. The method, known as cum-ex trades, has been used by other traders to drain fortunes from various European countries. Shah, who has maintained his innocence, is expected to appear in court for a bail hearing. The case is part of an ongoing reckoning of arrests and trials related to cum-ex trades across Europe.

via The New York Times|

#crime #cum-ex-trades #denmark

crime2 years ago•2 min saved

British Trader Sanjay Shah Extradited from UAE to Denmark on Fraud Charges

British trader Sanjay Shah has been extradited from the UAE to Denmark to face tax fraud charges related to his alleged participation in "cum-ex" fraud schemes. Shah, the founder of hedge fund Solo Capital, denies the charges and claims the trades were legal. Denmark is seeking to recoup £1.46bn ($1.84bn) in what is described as one of the country's biggest cases of financial fraud. Shah's trial is scheduled for January 2023.

via BBC.com|

#crime #cum-ex-schemes #extradition