A 45-year-old man from Mangaluru, Rohan Saldanha, has been arrested for orchestrating a multi-crore loan scam that defrauded several businessmen and industrialists by promising large loans at extremely low interest rates.
Saldanha built trust by staging legal formalities and presenting himself as a high-profile financier. His lavish bungalow in Jappinamogaru was a key part of the illusion of power and success. Prospective clients were invited to his luxurious home and office, where Saldanha offered loans worth hundreds of crores.
To add credibility, he employed a fake lawyer who used the name of a well-known regional attorney. Victims were made to speak with this imposter for document verification and legal formalities. Saldanha then demanded payments covering registration and stamp duty, sometimes amounting to crores, with one victim reportedly paying Rs 10 crore.
After collecting these sums, Saldanha vanished, leaving his victims shocked and helpless.
During a police raid on his bungalow, authorities uncovered secret hideouts and cleverly concealed sections within closets and wardrobes. These hideouts were apparently designed to help him evade clients, visitors, or law enforcement when under suspicion.
Police believe these secret spaces enabled him to stall or disappear during critical moments. In just a few months, Saldanha reportedly defrauded victims of Rs 40-50 crore, with the total fraud over several years suspected to be much higher.
Currently, three cases have been registered against him—two in Mangaluru and one in Chitradurga. Police suspect many more victims have not come forward due to embarrassment or fear.
Following complaints, Mangaluru Police arrested Saldanha and are now expanding the investigation to uncover the full scope of the scam. Authorities are also probing possible accomplices and urge other victims to report their cases.
