Mangaluru, 22 July

The multi-crore fraud case involving 43-year-old prime accused, Roshan Saldanha, was transferred to the Criminal Investigation Department (CID) on Tuesday.

Saldanha, a resident of Bajal in Mangaluru, is currently in judicial custody. He is accused of "duping" investors of several crores through fraudulent investment schemes that promised high returns, police said.

Mangaluru City Police have filed a formal petition before the jurisdictional court seeking Saldanha's custody, which will be heard on 23 July.

CEN police station booked a case when a Bihar businessman alleged fraud related to a Rs 10 crore land deal. The case involves the use of forged documents, shell companies, and sophisticated methods of financial manipulation.

Fraud cases exceeding Rs 10 crore are eligible for CID investigation.

Saldanha, already in judicial custody, faces two FIRs in Mangaluru alone, including a recent one from a Hyderabad-based individual alleging a Rs 1 crore fraud.

Police said his victims span across Maharashtra, Assam, and Andhra Pradesh - the largest being a Rs 20 crore fraud case from Assam and a Rs 5 crore case from Maharashtra.

Officials have identified multiple bank accounts linked to Saldanha with transactions exceeding Rs 50 crore.