ED&F Fights Negligence Claim In $2B Danish Tax Fraud Suit

Law360, London (September 10, 2019, 6:58 PM BST) -- A subsidiary of ED&F Man has told a London court that it was wrongly accused of negligence over a scheme to cheat the Danish government out of $1.9 billion for simply providing dividend documentation used by other defendants to claim allegedly fraudulent tax refunds.

Financial brokerage ED&F Man Capital Markets Ltd. said its only role was to provide tax voucher statements to clients.  It also notes, in an amended defense filed with the High Court on Sept. 5, that Denmark's tax authority said some of its documents were inaccurate, but made no allegation of dishonesty.

ED&F Man added that it did not...

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