A Hedge Fund, a Jewish School and $1.1 Billion in Cum-Ex Trades
Karin Matussek, 23 April 2021
 as part of a plan to deceive tax authorities.</p>
<p>Shah and a partner at his Solo Capital Partners LLP in 2011 sought to take advantage of the tax-exempt status of Ezra Academy in Queens for the trades, Hamburg prosecutors said in a February indictment seen by Bloomberg News. The men used “purportedly authentic” documents to buy shares on behalf of the school and claim refunds, prosecutors said.<span id=)
The allegations are the latest revelations tied to what prosecutors allege was Shah’s role in the tax-fraud scandal that has engulfed multiple European countries. More than 25 bankers, traders and lawyers have been charged in Denmark and Germany over the use of Cum-Ex trades to obtain millions of euros worth of duplicate tax refunds.
