Sanjay Shah, a 54-year-old British hedge fund trader of Indian origin, has been sentenced to 12 years in prison by a Danish court for orchestrating a tax fraud scheme that cost the Danish government over $1.2 billion. The case is linked to the Cum-Ex tax trading scandal, which involved complex financial maneuvers that exploited loopholes in tax regulations. The sentencing reflects Denmark's ongoing efforts to address large-scale financial crimes and recover lost tax revenues. Shah's conviction is part of a broader crackdown on tax fraud in Europe, particularly related to the Cum-Ex transactions that have drawn scrutiny across multiple jurisdictions.