Guwahati, Nov 19: The Central Bureau of Investigation (CBI) has filed a chargesheet against Monalisha Das, an agent of DB Stock & Consultancy, in connection with a large-scale online investment fraud in Assam. The chargesheet, submitted to the Special Judge for CBI cases at Chandmari, Guwahati, accuses Monalisha and others of deceiving thousands of investors through an unregulated deposit scheme.
Monalisha Das, a close associate of Deepankar Barman, the prime accused and proprietor of DB Stock & Consultancy, was arrested on August 22 by Guwahati city police after Barman’s sudden disappearance and multiple complaints by investors at Paltan Bazar police station. Following her arrest, the CBI took custody of Monalisha to further investigate the case.
The charges filed against Monalisha Das include violations under the Banning of Unregulated Deposit Schemes Act, 2019: Section 25, read with Sections 21(1), 21(2), and 21(3), Indian Penal Code (IPC): Section 409 (criminal breach of trust by public servant, banker, merchant, or agent) and Bharatiya Nyaya Sanhita, 2023 (BNS, 2023): Sections 316(5) and 318(4).
The Assam government referred the case to the CBI following public outcry and the scale of the alleged fraud. The CBI is investigating the roles of DB Stock & Consultancy, its proprietor Deepankar Barman, Monalisha Das, and others involved in the irregular deposit schemes.
The scam has caused significant financial distress to thousands of investors, with authorities emphasizing the need for strict action against unregulated deposit schemes to prevent similar occurrences in the future.
The DB Stock Brokers scam has emerged as one of Assam’s largest financial frauds, defrauding thousands of investors across the state. The accused, led by Dipankar Barman and his associate Monalisha Das, allegedly amassed approximately ₹7,000 crore since 2018 by offering guaranteed high returns through unlicensed stock trading schemes.
The accused enticed depositors with promises of extraordinary returns and issued documents executed on ₹100 stamp paper as proof of transactions. These operations were conducted without regulatory licenses from the Reserve Bank of India (RBI) or the Securities and Exchange Board of India (SEBI).
Over the past months, depositors began reporting irregular payments, with many failing to receive their promised returns. The scam has had a devastating impact on Assam’s financial landscape, highlighting vulnerabilities even in a region with just a 1.1% share in India’s stock market.
This scam has exposed the risks posed by illegal financial schemes and the urgent need for stricter regulatory enforcement in regions with lower financial literacy and market participation. It underscores the necessity for public awareness campaigns and stronger oversight to prevent such fraudulent activities in the future.
The CBI continues to investigate the case, with efforts underway to trace the funds and bring the perpetrators to justice.
