Indian Businessman Scrambles to Raise $1.6 Billion Bail

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Anjana Pasricha NEW DELHI— An Indian businessman jailed for failing to repay investors in an illegal bond scheme is scrambling to raise a whopping $1.6 billion dollar bail. Many questions swirl around the scheme that first fueled his meteoric rise and then brought his fortunes tumbling down. Just a year ago, the flamboyant Subrata Roy, 66, lived on a sprawling 300-acre estate in the northern Lucknow city and ran a business empire that included real estate, hotels, television channels, and a Formula One racing team. As the head of Sahara Group, Roy hobnobbed with top politicians and Bollywood stars. But since last March, Roy has been an inmate of New Delhi’s sprawling…

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