Global Investigations Review - The law and practice of international investigations


Monday, 03 February 2020

Denmark seizes Hyde Park property in cum-ex fraud probe

Denmark’s State Attorney for Special Economic and International Crime (SØIK) has seized a 130 million kroner (£14.7 million) property at Hyde Park in London as part of a probe into cum-ex tax fraud, according to a statement by the agency on 3 February

The authority said that the owner is suspected of taking part in a “fraud in relation to unjustified reimbursement of dividend tax,” and that the scheme is believed to have cost Denmark more than 12 billion kroner (£1.3 billion).

SØIK said it has so far seized assets totalling more than 3 billion kroner (£339 million) in connection with the investigation.

The Guardian has identified the owner of the Hyde Park home as British businessman Sanjay Shah, whose spokesperson confirmed the news to the paper.

Malaysia, Sri Lanka and Ghana open Airbus-linked probes

Malaysian, Sri Lankan and Ghanaian authorities have launched investigations linked to Airbus’ $4 billion bribery settlement with UK, French and US authorities that was approved on 31 January.

The Malaysian Anti-Corruption Commission (MACC) said in a statement on 1 February that it is investigating alleged bribes paid by Airbus agents to executives at local airline AirAsia. 

AirAsia denied wrongdoing in a statement the same day and said it would cooperate with the investigation.

The office of Sri Lanka’s president reportedly announced on 3 February that it had begun a “a comprehensive investigation into reports of allegations over financial irregularities” at the country’s state-owned airline.

The carrier, Sri Lankan Airlines, said in a statement on 2 February that it would cooperate with the probe.

The office of the Ghanaian president said in a statement on 3 February that it had directed the Office of the Special Prosecutor to investigate if government officials received bribes from Airbus.  

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