Mangaluru (Karnataka), Jul 22 (PTI) The multi-crore fraud case involving a 43-year-old prime accused, Roshan Saldanha, has been transferred to the Criminal Investigation Department (CID) on Tuesday for further investigation, police said.
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.
The Mangaluru City Police have filed a formal petition before the jurisdictional court seeking Saldanha’s custody, which will be heard on July 23.
A case was registered against Saldanha by the CEN police station based on a complaint from a businessman from Bihar, alleging fraud related to a land transaction amounting to Rs 10 crore, police said.
The case involves the use of forged documents, shell companies, and sophisticated methods of financial manipulation, they said.
According to legal provisions, fraud cases exceeding Rs 10 crore in value are eligible for CID investigation. A formal request was submitted earlier, and the CID has now agreed to take up the probe.
Saldanha, already in judicial custody for other financial frauds, now faces two FIRs in Mangaluru alone, including a recent one from a Hyderabad-based individual alleging a Rs 1 crore fraud, they said.
According to the police, additional complaints have surfaced against him involving victims from Maharashtra, Assam, and Andhra Pradesh–the largest being a Rs 20 crore fraud case from Assam and a Rs 5 crore case from Maharashtra.
A Rs 40 lakh cheating case has also been registered at the Chitradurga Town police station.
Mangaluru City Police Commissioner Sudheer Kumar Reddy said other existing cases will continue to be probed by the local police. As the investigation progresses, officials have identified multiple bank accounts associated with Saldanha with transactions exceeding Rs 50 crore.
The police have sought 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 appealed to victims across the country to come forward with any additional complaints or information related to the case and report to local police stations or contact Mangaluru Police. PTI COR AMP KH
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