Americans charged in multi-billion kroner fraud case arrive in Denmark for trial

Two American men, Matthew Richard Stein, 58, and Jerome Lhote, 52, have arrived in Denmark to stand trial for their alleged involvement in a massive tax fraud scheme. The pair landed at Copenhagen Airport early Friday morning, heading to a court hearing later that day in Glostrup.

They face charges of defrauding the Danish treasury of approximately 1.1 billion kroner (about $160 million USD). The alleged fraud mirrors the methods used by British citizen Sanjay Shah, who has already been sentenced to 12 years in prison for similar offenses. Both Stein and Lhote have pleaded not guilty to the charges against them.

The court proceedings, which are set to begin next week, are anticipated to be exceptionally long, with sessions planned through the summer of 2027. Friday's hearing was primarily a formality to confirm the restrictions placed upon the men, ensuring their presence throughout the trial. Since June 2021, they have been required to deposit their passports with a Danish representative in the U.S., only receiving them for travel to Denmark.

Represented by their defense attorneys, Martin Lomholdt and Arvid Andersen, the Americans confirmed their compliance with the court's conditions. The judge ruled that they would remain under the existing "surrogate" terms, meaning their passport arrangement substitutes for actual pre-trial detention, allowing them to avoid imprisonment while awaiting trial. The case also involves three other men: two British nationals, Rajen Ranmal Shah and Anupe Dhorajiwala, who are in custody, and another American, Luke Beneville McGee, who is expected to arrive for the trial. A sixth man, Graham McKenzie Horn, believed to be in the UAE, has not been extradited.

“

The decision from the court will be that you will be held in custody surrogate on the previously applicable terms.