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The arrest comes after allegations of Shetty’s involvement in defrauding Rohan Monteiro, the managing director of Mangaluru-based construction firm Rohan Corporation, and Harish, the owner of a financing company in Thokkottu.
According to the police, Vishwanath Shetty, along with an accomplice known as Kadam from Mumbai, had promised to help avail a loan of Rs 300 crores to the building construction company. The accused had reportedly taken an advance of Rs 1.75 crore from them. However, it was later revealed that Shetty failed to deliver on his promise.
A complaint was filed about the financial fraud.