Rohan Saldanha, a 45-year-old man from Karnataka, has been arrested by Mangaluru police for allegedly conning wealthy businessmen out of crores of rupees. Saldanha allegedly posed as a high-profile financier, luring victims with promises of fake loans and real estate deals. Police believe he siphoned off at least ₹50 crore from multiple victims across the country.

Saldanha operated by inviting prospective clients to his lavish bungalow in the Jappinamogaru area of Mangaluru. The mansion was custom-built to impress and deceive, boasting designer interiors, expensive artifacts, and luxury vehicles parked outside. Once inside, clients were offered business loans worth ₹500 crore or more. He claimed to have strong ties with major financial institutions and even used the name of a well-known regional lawyer to further the illusion; however, the "lawyer" was an impostor.

Victims were asked to pay advance amounts for stamp duty, registration charges, or legal fees. These advance amounts varied, usually between ₹50 lakh and ₹4 crore, but in some cases went up to ₹10 crore. Once payments were made, Saldanha vanished, switching off phone numbers and shutting doors. Mangaluru Police stated that Saldanha would show visitors lands worth crores and promise loans of ₹500 crores to ₹600 crores, initially swindling four to five crores in the name of commission and stamp duty.

A raid on Saldanha's mansion revealed secret chambers, hidden exits, and surveillance equipment. The mansion was designed to conceal rather than reveal. Police found rare ornamental plants worth ₹3 to ₹5 lakh each, a private stash of vintage champagne and exotic liquors, and secret rooms camouflaged behind walls and cupboards. The closets and wardrobes led to concealed areas, allowing him to remain undetected. Multiple CCTV cameras were installed to track anyone approaching the house. One of his bank accounts reportedly recorded over ₹40 crore in transactions in just three months, suggesting the actual scale of the fraud may be much larger.

Police are investigating how Saldanha managed to operate such a high-scale con, maintain such luxury, and evade detection for so long. They are also probing possible links to financial crimes, including money laundering. The arrest of Rohan Saldanha and the exposure of his elaborate scheme serve as a cautionary tale for investors and a reminder of the importance of due diligence in financial dealings.