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Owner of The Plaza in Police Custody In India

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.

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