From an Indian jail, tycoon tries to sell the New York Plaza
1–10 of 16 posts
Re: From an Indian jail, tycoon tries to sell the New York Plaza
#2[deleted]
Re: From an Indian jail, tycoon tries to sell the New York Plaza
#3$1.8b bail?
Indian government gonna make a lot of money..
Re: From an Indian jail, tycoon tries to sell the New York Plaza
#4That bail amount is insane. It would make sense if someone told me that it was a ploy to set a world record. It is a world record.
I am curious to know what parameters the court considered to set bail at this high an amount.
Re: From an Indian jail, tycoon tries to sell the New York Plaza
#5This has nothing to do with hacker news. A corrupt businessman was unfortunate to be on the receiving end and landed in jail for billions he probably owes to millions of old gullible investors who lost their retirement income to his Ponzi scheme. His arrest has little to do with justice, probably more of political vendetta. How media salivates over such news & glorifies a thug :(
Re: From an Indian jail, tycoon tries to sell the New York Plaza
#6That bail amount is insane. It would make sense if someone told me that it was a ploy to set a world record. It is a world record. I am curious to know what parameters the court considered to set bail at this high an amount.
Regardless of what he did, $1.6 Billion USD is insane. I'm sure whatever he did, he deserved jail time, but that bail amount would be very hard to stick here in the US (seems a lot like extortion to me).
Re: From an Indian jail, tycoon tries to sell the New York Plaza
#7That bail amount is insane. It would make sense if someone told me that it was a ploy to set a world record. It is a world record. I am curious to know what parameters the court considered to set bail at this high an amount.
Not so insane when you consider the fraud he is accused of amounts to ~4 Billion USD. http://en.wikipedia.org/wiki/Sahara_India_Pariwar_investor_f...
Re: From an Indian jail, tycoon tries to sell the New York Plaza
#8$1.8b bail? Indian government gonna make a lot of money..
They only make money if he skips bail - otherwise, the bail money is returned at the conclusion of the trial (even if he ultimately goes to prison).
Bail is just insurance against the accused fleeing (which is why it's set to high for someone that wealthy - if it was a few million, he could afford to just give it up).
Re: From an Indian jail, tycoon tries to sell the New York Plaza
#9$1.8b bail? Indian government gonna make a lot of money..
They only make money if he skips bail - otherwise, the bail money is returned at the conclusion of the trial (even if he ultimately goes to prison). Bail is just insurance against the accused fleeing (which is why it's set to high for someone that wealthy - if it was a few million, he could afford to just give it up).
and the government gets to keep the interest earned on the same over the time i guess...
Re: From an Indian jail, tycoon tries to sell the New York Plaza
#10[deleted]