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Solo Capital
Solo Capital (Solo Capital Partners LLP) was a British hedge fund created by the trader and convicted tax fraudster Sanjay Shah in 2009. It was closed in 2015 while it was being investigated by Danish tax authorities for fraud related to Cum-Ex Files. History Solo Capital was founded by Sanjay Shah in 2009 with an office of eight employees. Shah started the firm after the trading desk he was previously working at Rabobank closed its dividend arbitrage desk due to the financial crisis. Solo Capital worked with over 200 Americans who owned the self-directed pension plans to take advantage of a 27% withheld tax refund for US pension funds holding Danish stocks. Solo capital ran this trade between 2012 and 2015. The Danish tax authority claims the refunds were fraudulent. In 2014, the Danish tax authorities paid over 1,500 tax refund applications worth $590 million. In 2015, the Danish tax authorities paid over 2,500 tax refund applications worth $1.2 billion. Most of these wer ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hedge Fund
A hedge fund is a pooled investment fund that trades in relatively liquid assets and is able to make extensive use of more complex trading, portfolio-construction, and risk management techniques in an attempt to improve performance, such as short selling, leverage, and derivatives. Financial regulators generally restrict hedge fund marketing to institutional investors, high net worth individuals, and accredited investors. Hedge funds are considered alternative investments. Their ability to use leverage and more complex investment techniques distinguishes them from regulated investment funds available to the retail market, commonly known as mutual funds and ETFs. They are also considered distinct from private equity funds and other similar closed-end funds as hedge funds generally invest in relatively liquid assets and are usually open-ended. This means they typically allow investors to invest and withdraw capital periodically based on the fund's net asset value, whereas pr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sanjay Shah
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CumEx-Files
The CumEx-Files is an investigation by a number of European news media outlets into a tax fraud scheme discovered by them in 2017. A network of banks, stock traders, and lawyers had obtained billions from European treasuries through suspected fraud and speculation involving dividend taxes. The five hardest hit countries may have lost at least $62.9 billion. Germany is the hardest hit country, with around $36.2 billion withdrawn from the German treasury. Estimated losses for other countries include at least €17 billion for France, €4.5 billion in Italy, €1.7 billion in Denmark and €201 million for Belgium. The name "cum-ex" is derived from Latin, meaning "with without", and refers to the disappearing nature of the fraudulent dividend payments. Method The network stole several billion Euros from the treasury, through what Correctiv calls a "cum-ex" trade: The participants in the network would lend each other shares in large companies, so that to tax authorities there wo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rabobank
Rabobank (; full name: ''Coöperatieve Rabobank U.A.'') is a Dutch multinational banking and financial services company headquartered in Utrecht, Netherlands. The group comprises 89 local Dutch Rabobanks (2019), a central organisation (Rabobank Nederland), and many specialised international offices and subsidiaries. Food and agribusiness constitute the primary international focus of the Rabobank Group. Rabobank is the second-largest bank in the Netherlands in terms of total assets. A 2013 scandal resulted in a $1 billion fine for unscrupulous trading practices, which included the manipulation of LIBOR currency rates worldwide. Chief Executive Piet Moerland resigned immediately as a result. In terms of Tier 1 capital, the organisation is among the 30 largest financial institutions in the world. As of December 2014, total assets amount to €681 billion with a net profit of €1.8 billion. ''Global Finance'' ranks Rabobank 25th in its survey of "the world's safest banks". His ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Crime Agency
The National Crime Agency (NCA) is a national law enforcement agency in the United Kingdom. It is the UK's lead agency against organised crime; human, weapon and drug trafficking; cybercrime; and economic crime that goes across regional and international borders; but it can be tasked to investigate any crime. The NCA has a strategic role as part of which it looks at serious crime in aggregate across the UK, especially analysing how organised criminals are operating and how they can be disrupted. To do this, it works closely with regional organised crime units (ROCUs), local police forces, and other government departments and agencies. It is the UK's point of contact for foreign agencies such as Interpol, Europol and other international law enforcement agencies. On a day-to-day basis, the NCA assists police forces and other law enforcement agencies (and vice versa) under voluntary assistance arrangements. In extremis, the NCA Director General has the power to direct a chief o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reuters
Reuters ( ) is a news agency owned by Thomson Reuters Corporation. It employs around 2,500 journalists and 600 photojournalists in about 200 locations worldwide. Reuters is one of the largest news agencies in the world. The agency was established in London in 1851 by the German-born Paul Reuter. It was acquired by the Thomson Corporation of Canada in 2008 and now makes up the media division of Thomson Reuters. History 19th century Paul Reuter worked at a book-publishing firm in Berlin and was involved in distributing radical pamphlets at the beginning of the Revolutions in 1848. These publications brought much attention to Reuter, who in 1850 developed a prototype news service in Aachen using homing pigeons and electric telegraphy from 1851 on, in order to transmit messages between Brussels and Aachen, in what today is Aachen's Reuters House. Reuter moved to London in 1851 and established a news wire agency at the London Royal Exchange. Headquartered in London, Reuter' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Copenhagen
Copenhagen ( or .; da, København ) is the capital and most populous city of Denmark, with a proper population of around 815.000 in the last quarter of 2022; and some 1.370,000 in the urban area; and the wider Copenhagen metropolitan area has 2,057,142 people. Copenhagen is on the islands of Zealand and Amager, separated from Malmö, Sweden, by the Øresund strait. The Øresund Bridge connects the two cities by rail and road. Originally a Viking fishing village established in the 10th century in the vicinity of what is now Gammel Strand, Copenhagen became the capital of Denmark in the early 15th century. Beginning in the 17th century, it consolidated its position as a regional centre of power with its institutions, defences, and armed forces. During the Renaissance the city served as the de facto capital of the Kalmar Union, being the seat of monarchy, governing the majority of the present day Nordic region in a personal union with Sweden and Norway ruled by the Danis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
