Overview

• Under regulations for frauds over ₹10 crore, the land transaction case was transferred from CEN police station to the Criminal Investigation Department on July 22
• Mangaluru City Police have filed a petition for Saldanha’s custody on July 23 to question him about the mechanics of the alleged investment scam
• Investigators uncovered bank accounts linked to Saldanha with transaction volumes exceeding ₹50 crore and are scrutinizing records for additional victims
• Police allege Saldanha used forged documents and shell companies to promise high-return loans and real estate deals before disappearing
• Complaints have expanded beyond Dakshina Kannada, with FIRs filed in Maharashtra, Assam, Andhra Pradesh and Bihar against the accused