British hedge fund trader Anthony Patterson pleaded guilty to Tax Scandal Charges in Denmark.

A British hedge fund trader, Anthony Patterson, pleaded guilty to helping defraud Denmark of approximately $1.2 billion in the Cum-Ex tax fraud scandal. Patterson admitted to contributing to nearly 3,000 fraudulent trades and participating in a scheme that led to the Danish state losing over 9 billion Danish crowns. The Cum-Ex scam involved exploiting dividend payout loopholes across multiple European countries to obtain duplicate tax refunds.

February 29, 2024
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