Multi-crore fraud case: ED files prosecution complaint against Roshan Saldanha and others

Mangalore Today News Network

Mangaluru, Mar 3, 2026: In connection with a multi-crore fraud case, the Enforcement Directorate (ED) has filed a prosecution complaint (final report) before the Special Court under the Prevention of Money Laundering Act Court in Mangaluru against Roshan Saldanha, Daphne D’Souza and others.

FIRs were registered against Roshan Saldanha and Daphne Neetu D’Souza in June and July 2025 by various law enforcement agencies for allegedly cheating several businessmen by promising loans at low interest rates and collecting money under the pretext of “stamp duty.” Based on these FIRs, the ED initiated an investigation.

As part of the probe, on February 27, the ED submitted its complaint before the Special PMLA Court in Mangaluru against Roshan Saldanha, Daphne Neetu D’Souza, Sunil Ferrao, G. Ravi, M/s Yahvi Ventures Private Limited and M/s Dubois Production Private Limited.

Between October 2024 and July 2025, the accused — Roshan Saldanha and Daphne Neetu D’Souza — allegedly collected around Rs 49.45 crore through newly floated entities, including Sunil Ferrao (M/s Akshaya Agencies), G. Ravi (M/s Balaji Enterprises), and M/s Yahvi Ventures Private Limited.

The ED stated that instead of using the funds to provide loans as promised, the accused diverted the money for personal use and their own business activities. The investigation also revealed that a portion of the funds was routed through shell companies.

During searches conducted at five locations in Mangaluru on August 5, 2025, key documents were seized. Bank accounts worth approximately Rs 9.5 crore were frozen, and fishing boats were also attached during the operation.

Under Section 5 of the Prevention of Money Laundering Act, movable and immovable properties worth Rs 2.85 crore have been provisionally attached. A complaint has been filed under Sections 3 and 4 of the Prevention of Money Laundering Act, 2002, for the offence of money laundering, and further investigation is in progress, the ED said.