Mangaluru's Multi-Crore Fraud Scandal: A Web of Deceit

Mangaluru City Police have taken significant steps by filing a formal petition to gain custody of Roshan Saldanha, the main suspect in a massive investment fraud case. This move comes after multiple complaints were lodged against Saldanha, a resident of Bajal in Mangaluru, for allegedly deceiving investors with schemes offering lucrative returns.

According to Police Commissioner Sudhir Kumar Reddy, Saldanha is accused of siphoning off amounts running into several crores, with one case alone involving Rs 10 crore. Investigations point to the use of fake documents, shell companies, and complex financial manipulation tactics to carry out the fraud.

The police are seeking custodial interrogation to map the depth of the fraud, trace the money trail, uncover any co-conspirators, and identify additional victims. As the case draws widespread attention, officials urge affected individuals to report information they may have, thus further aiding the investigation.

(With inputs from agencies.)