Can Indian tycoon Subrata Roy sell New York’s Plaza Hotel and get out of jail?

24 September 2014 external

Subrata Roy is one of India’s richest men, runs one of its biggest companies and lives on a 300-acre estate complete with a giant lake and its own hospital. But since February, Roy, 65, has been a resident of New Delhi’s feared Tihar jail — the largest prison complex in South Asia — accused of running an illegal $4 billion investment scheme. Instead of being incarcerated alongside hardened criminals, Roy has been living like a VIP. The court has allowed him to set up shop in an air-conditioned conference room as he tries to negotiate the sale of some of his iconic hotel properties — including New York’s Plaza Hotel — to raise $1.6 billion to pay back investors and secure his release by the end of the month.

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