> Not only is what the subject of the article did probably not illegal
Why do you say that?
The method they used consists of simply filing forms to get withheld taxes paid out that were never withheld. The amounts paid out corresponds to owning all stocks in the actual companies many times over.
Sanjay himself went drinking with the employee of the Danish tax authority in Copenhagen who was in charge of approving the applications while the (I'll go ahead and use the word) fraud was going on, presumably to ensure things would continue to go on[0]. The employee has since been jailed for approving fraudulent applications in another case[1]
American pension funds who similarly exploited this have settled with the danish authorities and returned all the money they received[2]
Sanjay says he suggested a settlement, offering to return 1.9B DKK (~311m USD) in 2018[3]
Yes, the danish authorities were sleeping at the wheel, but that does not make it legal.
Let's hope that they catch all those who did this.
In germany, they are also going to vote a law before christmas that the crime can still be followed up after 10 years in order to bring all of them to court who did this in germany.
Why do you say that?
The method they used consists of simply filing forms to get withheld taxes paid out that were never withheld. The amounts paid out corresponds to owning all stocks in the actual companies many times over.
Sanjay himself went drinking with the employee of the Danish tax authority in Copenhagen who was in charge of approving the applications while the (I'll go ahead and use the word) fraud was going on, presumably to ensure things would continue to go on[0]. The employee has since been jailed for approving fraudulent applications in another case[1]
American pension funds who similarly exploited this have settled with the danish authorities and returned all the money they received[2]
Sanjay says he suggested a settlement, offering to return 1.9B DKK (~311m USD) in 2018[3]
Yes, the danish authorities were sleeping at the wheel, but that does not make it legal.
[0] https://www.dr.dk/nyheder/webfeature/milliardkuppet
[1] https://www.dr.dk/nyheder/penge/seks-aars-faengsel-til-sven-...
[2] https://www.skm.dk/aktuelt/presse-nyheder/pressemeddelelser/...
[3] https://www.dr.dk/nyheder/penge/sanjay-shah-jeg-tilboed-danm...