Guwahati, March 25: In a major crackdown on financial fraud, the Enforcement Directorate has provisionally attached assets worth ₹13.41 crore in a money laundering case linked to DB Stock Consultancy and its proprietor Deepankar Barman. The action, taken under the Prevention of Money Laundering Act (PMLA), 2002, has brought to light an alleged Ponzi scheme that targeted thousands of investors across the country.
The investigation stems from an FIR registered at Paltan Bazar Police Station in August 2024, which was later taken over by the Central Bureau of Investigation, highlighting the scale of the case. According to officials, the firm operated an unregulated deposit scheme in Guwahati between 2021 and August 2024, promising unusually high returns ranging from 1.25 per cent per week to as much as 120 per cent annually. The schemes were widely promoted through educational institutions, WhatsApp groups, and personal networks, enabling the accused to build a large investor base.
Probe findings indicate that around 15,500 individuals from across India were allegedly defrauded, with total deposits estimated at ₹400.14 crore. The agency described the operation as a “classic Ponzi scheme,” where funds collected from new investors were used to pay returns to earlier investors without any legitimate source of income.
Authorities also pointed out that DB Stock Consultancy was neither registered as a Non-Banking Financial Company nor authorised by the Reserve Bank of India to accept public deposits, raising serious regulatory concerns.
Investigators said Barman went absconding on August 18, 2024, shortly after the scheme collapsed, leaving investors in distress. He was later apprehended by Assam Police in coordination with the CBI. The attached assets include immovable properties worth ₹8.71 crore—comprising flats, land parcels, and office spaces in Guwahati, Hyderabad, and Visakhapatnam—along with movable assets valued at ₹4.70 crore. These include 27 bank accounts holding ₹4.04 crore, as well as investments in mutual funds and equities worth ₹66 lakh.
Officials said further investigation is ongoing to trace additional proceeds of crime and identify other individuals or entities involved in the alleged scam.
