New York Plaza Owner Arrested Amid $3.9 Billion Refund Probe
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Subrata Roy, owner of the financial services group Sahara India Pariwar, surrendered to police after the nation’s top court issued a warrant in a probe into whether he failed to refund $3.9 billion to his depositors.
Roy, 65, submitted to police and is cooperating with the Supreme Court’s directive, his son Seemanto Roy said at a press conference in New Delhi today. The financier defied summons and failed to appear in court on Feb. 26, prompting a non-bailable arrest warrant. In a statement issued earlier today, Roy cited the need to be at his ailing mother’s bedside for his absence.