ED Files ₹49.45 Crore Money Laundering Case in Mangalore Loan Fraud
March 1, 2026
ETT News / New Delhi
The Directorate of Enforcement (ED) Mangalore Sub Zonal Office filed a comprehensive Prosecution Complaint against Roshan Saldanha, Dafney Neetu D’Souza, and several others before the Special Court for PMLA cases in Mangalore on February 27, 2026. This legal action follows a deep-dive investigation into a multi-crore money laundering scheme that allegedly defrauded numerous businessmen under the pretext of facilitating low-interest loans.
The federal agency initiated the probe after local law enforcement registered multiple FIRs in June and July 2025. These complaints highlighted a predatory scheme where the accused collected vast sums of money from entrepreneurs, claiming the funds were required for "stamp duty" to secure substantial credit lines. Instead of delivering the promised financial assistance, the group reportedly pocketed the deposits.
Investigations revealed that between October 2024 and July 2025, the accused mobilized approximately Rs. 49.45 Crore. These illicit funds were funneled into newly created proprietary concerns, including Akshaya Agencies and Balaji Enterprises, as well as the company Yahviivi Ventures Pvt Ltd. The ED found that the suspects diverted the money for personal use, their own business interests, and siphoned off portions through a network of dummy entities.
The crackdown intensified in August 2025 when the ED conducted search operations at five locations across Mangalore. These raids led to the seizure of incriminating documents and the freezing of bank accounts and fishing boats valued at nearly Rs. 9.5 Crore. By November 2025, the agency further tightened its grip by provisionally attaching immovable and movable properties worth Rs. 2.85 Crore under the provisions of the PMLA.
The formal complaint now targets Roshan Saldanha, Dafney Neetu D’Souza, Sunil Ferrao, G Ravi, Yahviivi Ventures Pvt Ltd, and Dubois Production Pvt Ltd. They face charges for the commission of money laundering as defined under Section 3 of the PMLA, 2002. While the filing of the Prosecution Complaint marks a major milestone in the case, the ED confirmed that further investigation remains under progress to uncover the full extent of the financial trail.
ED Mangalore Enforcement Directorate Case PMLA Case Mangalore 49 45 Crore Loan Scam Money Laundering Case Karnataka
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