Hedge Fund Boss Gets Limited Money To Fight $2B Fraud Suit

Law360, London (August 6, 2020, 4:52 PM BST) -- A judge refused on Thursday to release £12.7 million ($16.7 million) in assets held by the court to a hedge fund founder accused of masterminding a $2 billion tax fraud against Denmark, saying the Dubai-based businessman needed only a slice of the money to pay his legal fees.

High Court Judge David Foxton said it would be inappropriate to order a full payment to cover all the legal costs owed by Sanjay Shah and his companies under a contingency fee agreement, or CFA, with his lawyers at Meaby & Co Solicitors. The agreement cut the cost of the law firm's services...

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