NEW YORK—Subrata Roy, owner of financial services group Sahara India Pariwar, which owns The Plaza hotel here, turned himself in to police in India following a missed court date in a large fraud case.
Roy, who is being charged with failing to refund $3.9 billion to his depositors, failed to appear in court on Feb. 26, prompting a non-bailable arrest warrant, according to Bloomberg. In a statement, Roy claimed he needed to be with his ailing mother.
Roy is looking to convince the top court that Sahara has complied with an order to refund the $3.9 million to 30 million depositors, according to Bloomberg.