About three years after it was revealed that the Danish state had been defrauded by over 12 billion kroner in reimbursed taxes, the tax authority SKAT looks to be finally making headway in recovering some of the missing funds.
The Tax Ministry yesterday revealed that at least two US pension funds, of a total 277 involved, have agreed to pay back the funds they obtained through the fraudulent stunt.
“We’ve obtained a smaller two-figure million kroner sum. It’s far from the billions that were stolen, but it shows it is possible to get a substantial amount of it back,” the tax minister, Karsten Lauritzen, told DR Nyheder.
“Additionally, we are getting new information about how the fraud took place, and that will be used to apply pressure on others.”
Aside from the repayments, SKAT has also entered into agreements with the pension firms regarding an exchange of information pertaining to the case.
A total of 306 foreign companies and pension firms were involved, and aside from in the US, SKAT has also filed suits against individuals and companies in the UK, Canada, Luxembourg and Malaysia. About 2.7 billion kroner has already been seized from accounts abroad, including in Germany.
British businessman Sanjay Shah, who is suspected of being the mastermind behind the fraud, was recently sentenced to two years in Dubai, where he was reportedly living a life of luxury, for writing a coverless check. He has appealed that decision and is out on bail.