Dubai, Apr 4 (IANS): The Dubai Court of Cassation has rejected the appeal of British-Indian Sanjay Shah, who is wanted by Danish authorities on charges of money laundering and committing tax fraud to the tune of $1.7 billion.

In doing so, it upheld the Dubai Court of Appeal's ruling last year to grant Denmark's request for his extradition.

"Chancellor Essam Issa Al Humaidan, Attorney General of Dubai, announced that Dubai Court of Cassation has rejected the appeal of Sanjay Shah, a British national wanted by Danish authorities, and Sanjay Shah can be extradited to Denmark over fraud and money laundering charges," the Dubai government's media office announced on Twitter.

Shah, 52, a hedge fund trader who lived on The Palm Jumeirah, was arrested by Dubai Police in June last year following Denmark's extradition petition.

His fraud scheme involved submitting thousands of applications to the Danish Treasury on behalf of investors and companies from several countries around the world in order to receive dividend tax refunds, according to Dubai Police.

The Dubai Courts had initially rejected Denmark's extradition request.

Attorney General Chancellor Essam Issa Al Humaidan appealed the decision in accordance with the Law of International Judicial Cooperation, and the Dubai Court of Cassation has now upheld the decision to extradite the suspect to Denmark, according to a statement.

Shah is accused of masterminding a scam, which ran for three years since 2012, has been described as one of the largest fraud cases in Denmark's history.

His fraud scheme involved submitting thousands of applications to the Danish Treasury on behalf of investors and companies from several countries around the world in order to receive dividend tax refunds, according to a Dubai Police statement.