Mangaluru Police seek custody of prime accused in multi-crore fraud case

Roshan Saldanha, a resident of Bajal in Mangaluru is accused of duping investors of several crores of rupees through fraudulent investment schemes that promised high returns, police said

The Mangaluru City Police have filed a formal petition before the jurisdictional court seeking custody of the prime accused in a multi-crore investment fraud case, officials said on Tuesday.

Roshan Saldanha, a resident of Bajal in Mangaluru, is currently in judicial custody, they said. 

 

He is accused of duping investors of several crores of rupees through fraudulent investment schemes that promised high returns, police said, adding that multiple complaints have been lodged against him by victims from various parts of Dakshina Kannada and beyond, alleging that they were misled by Saldanha's schemes and guarantees.

 

According to Police Commissioner Sudhir Kumar Reddy, in one case, ₹10 crore has been fleeced from an investor.

The case involves the use of forged documents, shell companies, and sophisticated methods of financial manipulation, sources said. 

 

The police now seek custodial interrogation to uncover the full extent of the fraud, track the flow of funds, identify accomplices, and determine whether more victims are involved.

Investigators in the police department believe that Saldanha may have operated through multiple channels to project legitimacy, thereby gaining the confidence of unsuspecting investors. The case has garnered widespread public interest given the high value of the fraud and its ripple effect on individuals and families across the region.

Meanwhile, authorities have urged the public to come forward with any additional complaints or information related to the case.

The investigation is ongoing and further revelations are expected once custodial interrogation commences.