Danish Tax Agency Wins $164 Million Judgment in Settlement Suit

Danish tax authorities won a judgment against three people they say breached settlement agreements amid its ongoing $2.1 billion bank fraud dispute.

Judge Naomi Reice Buchwald granted judgment Oct. 9 to the Danish Customs and Tax Administration, also known as Skatteforvaltningen and SKAT, following an April bench trial against Matthew Stein, Jerome Lhote, and Luke McGee in the of the US District Court for the Southern District of New York.

The court ordered its1.04 billion Danish Kroner judgment to be converted to just under $164 million in accordance with the exchange rate set by the Fed on Oct. 3.

The ...