DB Stock consultancy scam: Fraudster son on the run, parents, CA arrested in Guwahati

Syllad | The Rising MeghalayaSeptember 21, 2024

Even as the mastermind behind the DB Stock Consultancy scam, Deepankar Barman, has managed to evade authorities for over a month, Guwahati Police have arrested his parents and a chartered accountant (CA) for questioning in connection with the scam.

Barman’s parents have been remanded to judicial custody, while the CA is currently under police remand for three days. The arrests are part of ongoing efforts to investigate the financial fraud, which has attracted significant attention. Authorities are continuing their search for Barman, as the investigation into the scam progresses.

Those who have ben arrested are- Chabin Barman (67), father of Deepankar Barman son of Lt Jagya Ram Barman, a resident of Flat no 4C, Abhiguna Residency, Gotanagar, Guwahati; Deepali Talukdar (63), mother of Deepankar Barman and wife of Chabin Barman and Mukesh Agarwal (40) (CA and financial planner for DB Stock Consultancy), son of Ghanshyam Agarwal, a resident of House No 6A, Nripen Bora Path, Fatasil Ambari, Guwahati.

They have been charged in connection with Paltan Bazar Police Station case number 288/2024 under section 316(5)/318(4)/3(5) BNS read with section 21 of the Banning of Unregulated Deposit Scheme Act 2019.

The mastermind behind the multi-crore rupee online trading scam Deepankar Barman has managed to evade the arrest since the scam came to light in the first week of August.

“Chabin Barman and Deepali Talukdar were arrested based on the analysis of the materials collected during the searches conducted on the residence of Deepankar Barman.

During the search, several incriminating documents were recovered. The investigation revealed that Chabin Barman and Deepali Talukdar had used funds collected through unregulated deposits to invest in several immovable properties and various financial assets including some of them in their own names,” Guwahati Police commissioner Diganta Barah said in a statement here.

“In addition, CA Mukesh Agarwal who has been associated with the DB Stock Consultancy, was also arrested. Agarwal was actively involved with Deepankar Barman and played a significant role in the financial operations of Deepankar Barman’s DB Stock Consultancy,” Barah said.

Barah said as the primary financial planner, Mukesh Agarwal managed book-keeping, audits and other financial aspects of the DB Stock Consultancy.

“The police are currently tracing the flow of funds obtained through these unregulated deposits,” the police commissioner said.

He said notices have also been issued to the family members of Deepankar Barman, requiring them to appear before the police on Monday for further questioning.

“To unearth the full extent of the scam and the nexus involved, assistance is being taken from specialized Central agencies to ensure a thorough investigation,” he added.