Mangaluru: The Enforcement Directorate (ED) has filed a prosecution complaint (final report) against Roshan Saldanha, Daphne Neetu D’Souza and others in the Special PMLA Court of Mangaluru, for alleged multi-crore fraud. The agency said several FIRs were registered in June and July 2025 against Roshan Saldanha and Daphne Neetu D’Souza for allegedly defrauding a number of entrepreneurs by providing them with big loans at low interest rates. The accused are alleged to have collected cash under the excuse of “stamp duty” claims.
According to these FIRs the ED launched an investigation under the Prevention of Money Laundering Act (PMLA). On 27 February the ED filed the complaint against Roshan Saldanha, Daphne Neetu D’Souza, Sunil Ferrao, G. Ravi, M/s Yahvivi Ventures Private Limited, and M/s Dubois Production Private Limited as per Special Court.
Investigation Findings
According to the investigation, the accused allegedly mobilized an estimated ₹49.45 crore from October 2024 to July 2025 from newly floated entities such as firms associated with Sunil Ferrao (M/s Akshaya Agencies), G. Ravi (M/s Balaji Enterprises), and Yahvivi Ventures Private Limited.
Rather than taking the funds to enable loans as claimed, the alleged abuser used the money for personal investments and conducting business. It also said that a part of the proceeds were funneled through shell companies.
ED Operations
On August 5, 2025, the ED conducted searches at five locations in Mangaluru. Bank accounts worth nearly ₹9.5 crore were frozen and fishing boats were also seized during the operation.
Under Section 5 of the PMLA, movable and immovable properties worth ₹2.85 crore have been provisionally attached.
Legal Action
A complaint is lodged under Sections 3 and 4 of the PMLA, 2002 for the crime of money laundering and ongoing investigation, the E.D. said.
