A Dubai court has denied a Danish extradition request for a Briton accused of tax evasion, fraud and failure to make a $1.7 billion payment to the treasury, according to one of his agents.

Dubai police arrested Sanjay Shah, an investor through a hedge fund, in June at the request of Denmark.

Shah, 51, is accused of running a fraud scheme he started in 2012 that lasted three years based on foreign companies claiming to own shares in Danish companies to claim tax refunds. “The request was denied due to insufficient information provided by Denmark,” his lawyer, Carrie Bellman, told AFP.

Danish Justice Minister Matthias Tesfaye indicated that “Copenhagen intends to appeal against the decision handed down by the court in Dubai if there are sufficient legal grounds to do so.”

According to Emirati media reports, the Shah maintains his innocence and says he did not violate Danish laws. In June, Emirates police said: “The Shah has been arrested with a view to being deported for trial in Denmark.”