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A significant financial fraud case has been registered at Sanguem Police Station after a businessman from Xelpem filed a complaint. The complainant alleged that between March and April 2025, five individuals — Yogesh Sawant, Jaiswal, Roshan Saldanha, R.K. Nayak, and Reddy, all residents of Mangalore, Karnataka — tricked him into paying Rs1,85,94,600 as a 1% stamp duty fee to secure a Rs200 crore loan.
The victim transferred the money to bank accounts provided by the accused, expecting the loan to be disbursed. However, the loan was never granted, leading to the registration of the fraud case. Authorities have launched an investigation to apprehend the accused and recover the defrauded amount.
