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Luke Beneville McGee is an American implicated in one of the largest tax fraud schemes in Denmark involving the Cum-Ex strategy. McGee, alongside Matthew Richard Stein and Jerome Lhote, managed to exploit tax systems by claiming double refunds on dividend taxes, leading to significant financial losses for the Danish government.

Background

McGee initially collaborated with Sanjay Shah, a key figure in the Cum-Ex fraud, before branching out to establish his own fraudulent operation. His business connections include Alan Quasha, a notable investor, which suggests a broader network of influence and financial support.

Role in Cum-Ex fraud

  • North Channel Bank: McGee was one of the owners of North Channel Bank in Germany, which was instrumental in executing the fraud by processing these illegal tax claims. This bank later faced bankruptcy, leaving Denmark with claims against its assets.
  • Choice Bank in Belize: He was also linked to Choice Bank, known for handling transactions for the porn industry among other questionable financial activities, which raised flags for money laundering.

Legal and financial consequences

McGee, along with his accomplices, entered into a settlement with the Danish Tax Agency to repay some of the fraudulently obtained funds. However, the total amount owed remains significant, with ongoing legal actions aimed at recovering further losses. There's a potential for McGee to face up to 12 years in prison if convicted of his role in this scheme.

References

  1. ^ "Nu er milliardær sagsøgt: Her er alle hovedpersonerne i jagten på de forsvundne milliarder". DR (in Danish). 2024-08-27. {{cite news}}: |access-date= requires |url= (help)
  2. "Præsidenternes pengemand har tæt forbindelse til tiltalte i danmarkshistoriens største svindelsag". DR (in Danish). 2021-10-25. {{cite news}}: |access-date= requires |url= (help)

External links


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