Deepankar Barman to be brought to Guwahati tomorrow, to be taken into custody by cops from six states

Syllad | The Rising MeghalayaOctober 28, 2024

Following his arrest near the Arambol Bridge in Goa, Deepankar Barman, the proprietor of DB Stock & Consultancy, is expected to face custody not only with the Central Bureau of Investigation (CBI) but also with police forces from six other states involved in the investigation.

Commissioner of Police Diganta Barah confirmed in Guwahati that Barman would be brought to the city within a day or two, pending the completion of required legal formalities due to his interstate arrest.

Barman is implicated in an extensive online trading scam that affected investors across multiple states, including Assam, Meghalaya, Arunachal Pradesh, Mizoram, Andhra Pradesh, Jammu & Kashmir, and Telangana. He allegedly attracted large investments by promising high returns through DB Stock & Consultancy. FIRs have been filed against him in these states, and their respective police departments intend to take him into custody for further investigation upon his arrival in Guwahati.

The first case against Barman was registered by Paltan Bazar Police Station on August 22 under Case No. 288/2024, invoking the Banning of Unregulated Deposit Schemes Act, 2019, which was subsequently transferred to the CBI. Recently, the Guwahati police filed a fresh FIR based on a new complaint, expanding their investigation into the scam.

Deepankar Barman was apprehended on Sunday by a Guwahati city police team led by ACP Amrit Mahato in the jurisdiction of Pernem police station, South Goa district. His capture came after nearly 68 days of extensive search across multiple states due to his involvement in a significant online trading scam that impacted investors nationwide.

Barah explained, “We have been pursuing him for a long time. Initially, we couldn’t locate him, but our efforts persisted because of the considerable sums he had siphoned off under the guise of stock trading. The destination of these funds remains unknown, and many investors lost their hard-earned money.”

The first case against Barman was filed on August 22 after media reports on the scam, but he had already fled Guwahati on August 18. A thorough technical analysis by the police traced his presence to Goa, prompting a city police team to camp in the area for two weeks. Despite difficulties, they persisted by developing leads through the Crime Branch of Goa Police. Barman’s evasion tactics included avoiding social media and phone use since August 21 and frequently changing locations. Eventually, he settled at a homestay approximately 80 km from Goa, where the police detected his presence the day before his arrest.

According to Barah, a police team led by ACP Amrit Mahato was dispatched to Goa on Sunday morning with a strategic plan to apprehend Deepankar Barman. The team tracked him to an area near the Arambol Bridge, approximately 80 km from Goa, where they set up a trap and successfully detained him. A search of Barman’s homestay room led to the recovery of Rs 27 lakh in cash, a passport, and valuable gold jewelry.

Barah confirmed that a thorough interrogation of Barman is planned following his return to Guwahati. Upon arrival, he will be presented in court before the police proceed with further investigative steps.

Barman’s arrest is part of a larger crackdown on the DB Stock Trading scam, with five individuals arrested so far. In addition to Barman, those in custody include his parents, Chabin Barman (67) and Deepali Talukdar (63), along with Mukesh Agarwal (40), the chartered accountant and financial planner for DB Stock Consultancy. Two associates, Monalisha Das and her sister Anjali Das, were also arrested for allegedly transferring funds to Barman through the hawala system.

Notably, Barman had built a reputable image prior to the exposure of his scam. He was awarded the title of Best Youth Entrepreneur of 2023 by a Guwahati-based organization and had even organized a financial literacy program at Royal Global University in Guwahati in 2023. These activities boosted his credibility and helped him attract more investors to DB Stock & Consultancy, leading to substantial financial losses for many.