Multi-Crore Scam: Mangaluru Conman Rohan Saldanha Arrested By Police

A significant financial fraud has been uncovered in Mangaluru involving a 45-year-old conman Rohan Saldanha, who allegedly conned wealthy businessmen by promising large loans and lucrative real estate deals. Authorities said he received advance payments totalling crores before fleeing without fulfilling his promises.

According to India Today, police carried out a late-night raid on Saldanha’s expansive mansion, uncovering hidden chambers, secret doors, and escape routes. The accused allegedly promised loans worth up to Rs 600 crore, with officials estimating the entire fraud to be about Rs 500 crore. He used his wealth and the magnificence of his home to impress and mislead rich clients. The luxurious mansion reportedly included valuable ornamental plants worth several lakhs, a private collection of vintage liquors, and a sophisticated surveillance system that covered the entire property.

Saldanha is said to have built trust with prospective clients by portraying himself as a successful financier with connections to reputed financial institutions. Bank records reviewed by investigators reveal that more than Rs 40 crore passed through one of his accounts in just a few months, which shows the large scale of the fraud.

NDTV reported that the accused used the name of a well-known local lawyer to convince victims to pay hefty registration and stamp duty fees. In some cases, these fees were as high as Rs 10 crore. This scheme convinced clients that all legal procedures were legitimate, whereas it was a deliberate attempt to collect money before leaving.

Authorities have registered three FIRs related to the case, two in Mangaluru and one in Chitradurga. However, officials believe many victims have not come forward due to fear or embarrassment.

According to reports, police are still investigating, hoping to uncover collaborators and reclaim the stolen funds. They are urging everyone who suspects that they have been victimised to come forward and aid with the investigation. This instance is a reminder to be cautious when accepting high-value financial offers and to thoroughly check credentials.