More trouble for fraudster as cops from six states line up to take custody
Guwahati, Oct 28: Deepankar Barman, the proprietor of DB Stock & Consultancy, was remanded by a local court in Pernem, Goa, on a three-day transit order following his arrest near the Arambol Bridge, 80 km from Goa, on Sunday evening. He is likely to be brought to Guwahati on Tuesday.
Commissioner of Police Diganta Barah informed reporters in Guwahati on Monday morning that Barman would be brought to Guwahati within a day or two, pending the completion of necessary legal procedures due to his arrest in another state.
Police and investigative agencies from six states, along with the Central Bureau of Investigation (CBI), are pursuing Barman for his involvement in an online trading scam. Investors from Assam, Meghalaya, Arunachal Pradesh, Mizoram, Andhra Pradesh, Jammu & Kashmir, and Telangana have reportedly invested significant amounts in DB Stock & Consultancy, lured by promises of high returns. FIRs have been registered against Barman in these states, and their police will take him into custody for further investigation once he reaches Guwahati.
As the first case registered by the city against him was taken up by the CBI, the city police registered a fresh FIR against Barman on Saturday following a fresh complaint. The first case against Barman was filed by the Paltan Bazar Police Station on August 22 under Case No. 288/2024, citing violations under the Banning of Unregulated Deposit Schemes Act, 2019.
Barman was caught by a city police team led by ACP Amrit Mahato on Sunday. He was found within the jurisdiction of Pernem police station in the South Goa district, following a search across multiple states due to his involvement in a large-scale online trading scam affecting investors across India.
It took nearly 68 days for the police to locate and trace Barman.
The Commissioner of Police stated, “We have been pursuing him for a long time. Initially, while the case was with us, we couldn’t locate him, but our efforts continued due to the significant amount of money he had siphoned from investors under the guise of stock trading. The exact destination of these funds remains unknown, and many investors lost their hard-earned money.”
“The first case was filed against Barman on August 22, with reports on the scam appearing in the media beforehand. Barman reportedly fled Guwahati on August 18. The police team conducted extensive technical analysis, which led them to detect his presence in Goa. Acting on this lead, a team from city police camped in the area for two weeks, but at a certain point, they encountered limitations in gathering further information,” he added.
The accused avoided social media and mobile phone use since August 21, making it challenging for the police to track him and frequently changed locations, eventually staying at a homestay about 80 km from Goa. Police gathered information on how he managed to secure funds for survival, which helped them develop connections within the Crime Branch of Goa Police. Based on these inputs, they detected Barman’s presence in Goa the day before his arrest.
“Yesterday morning, a police team led by ACP Amrit Mahato headed to Goa with a strategic plan to locate him. They tracked him to an area near Arambol Bridge, 80 km from Goa, where they set up a trap and successfully apprehended him,” Commissioner of Police further said.
“During the search of his homestay room, the police recovered Rs 27 lakh in cash, a passport, and valuable gold jewellery,” Barah said.
Barah added that the police are preparing for a detailed interrogation of Barman once he arrives in Guwahati. After his arrival, he will be presented before the Guwahati court, and the investigation will proceed from there.
So far, five persons have been arrested in connection with the DB Stock Trading scam. Alongside Barman’s parents, Chabin Barman (67) and Deepali Talukdar (63), the police also apprehended Mukesh Agarwal (40), who served as the chartered accountant and financial planner for DB Stock Consultancy. Additionally, two of Deepankar’s associates, Monalisha Das and her sister Anjali Das, were arrested for allegedly transferring funds to him through the hawala system.
Interestingly, despite his fraudulent activities, Barman had previously been recognized as the Best Youth Entrepreneur of 2023 by an organization in Guwahati. He had also conducted a financial literacy program at Royal Global University in Guwahati in 2023, enhancing his reputation and credibility, which helped him attract more investors into his scam.
