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By Isabelle Yr Carlsson
GLOSTRUP, Denmark (Reuters) - A Danish prosecutor on Friday asked a court to find British hedge fund trader Sanjay Shah guilty of defrauding Denmark of over 9 billion Danish crowns ($1.35 billion) and to sentence him to a maximum of 12 years in prison.
Shah, 54, stands accused of being the mastermind behind fraudulently securing dividend tax refunds from the Danish treasury via trading schemes, known as "cum-ex", between 2012 and 2015.
Shah denies any wrongdoing, while prosecutors say he fraudulently obtained refunds from the treasury via schemes that flourished following the 2008 financial crisis.
The prosecutor on Friday asked for the maximum prison sentence for Shah as well as the seizure of assets worth 7.2 billion Danish crowns ($1.08 billion).
The trial, which began in March, is being closely watched by tax authorities around the world. The court expects to deliver a verdict in December.
Shah was arrested in 2022 in Dubai and in December last year was extradited to Denmark, where he is being held in custody.
($1 = 6.6779 Danish crowns)
(Reporting by Isabelle Yr Carlsson; editing by Jacob Gronholt-Pedersen and Sharon Singleton)
