Guwahati, Oct 30: Deepankar Barman, proprietor of DB Stock & Consultancy and a prime suspect in a multi-state fraud case, was brought to Guwahati from Goa on Tuesday evening. His arrest was made by a police team led by Panbazar ACP Amrit Mahato near Goa’s Arambol Bridge. Barman, who had been on a three-day transit remand, is now held at Panbazar Police Station and is set to appear before the Chief Judicial Magistrate’s court on Wednesday.
The Central Bureau of Investigation (CBI) and police from six other states are expected to seek Barman’s custody, as he allegedly enticed numerous investors from multiple regions with promises of high returns through fraudulent investment schemes. Under the Banning of Unregulated Deposit Schemes (UDS) Act, assets seized from Barman and his associates may be liquidated to compensate verified investors, according to Assam DGP GP Singh.
City police have registered a new case (No. 374/2024) against Barman at Paltanbazar Police Station following his involvement in a large-scale online trading scam affecting investors across Assam, Meghalaya, Arunachal Pradesh, Mizoram, Andhra Pradesh, Jammu & Kashmir, and Telangana. The initial case against Barman, registered on August 22 under Case No. 288/2024, was transferred to the CBI on October 15.
Barman reportedly used DB Stock & Consultancy to attract substantial investments with high-return promises, leading to multiple FIRs against him in various states. Law enforcement agencies from these states are preparing to request custody for deeper investigation into the fraud. Barman’s arrest is anticipated to reveal further details of the scam, with potential relief for investors through the UDS Act’s asset liquidation provisions.
DGP GP Singh stated that investors who can verify their investments will be eligible for compensation from the liquidated assets. He explained that the UDS Act allows for the formation of a committee to oversee the asset liquidation process, with funds allocated for investor repayment after investigation.
During Assam Police’s investigation, significant assets were seized, and CBI’s involvement is aiding in further tracking and securing of assets. DGP Singh expressed confidence that within a few months, partial compensation could be provided to defrauded investors. “Everyone leaves a footprint,” Singh said, emphasizing that cooperation with the CBI has been essential in locating key figures and apprehending remaining suspects.
