Guwahati, Sept 16: The DB Stock Broking financial fraud, one of Assam’s most significant recent scams, has undergone a change in its investigative team after authorities struggled to locate the firm’s elusive owner, Deepankar Barman. This case has left investors grappling with an estimated loss nearing ₹7,000 crore. Assistant Commissioner of Police (ACP) Amit Mahato has now taken charge of the investigation, succeeding Assistant Sub-Inspector (ASI) Bishal Das.
Barman has been on the run for over a month, with his last known location being Guwahati. Although he hasn’t used his passport or left the country, his whereabouts remain unknown since his phone was switched off on August 19. Following the scam’s exposure, police detained Barman’s fiancée, Monalisa Das, in the Khaghuli area of Guwahati as she attempted to evade capture.
The DB Stock Broking firm allegedly funneled clients’ funds through the reputable trading platform Angel One, making extravagant promises of returns from 8% monthly to an unbelievable 120% annually—now exposed as fraudulent. This has initiated an exhaustive investigation, with authorities examining the firm’s offices located in Guwahati, Nalbari, Rangia, Mumbai, Hyderabad, and Bengaluru.
Barman’s financial dealings were managed through a dematerialised account (demat account) and transactions across 12 personal bank accounts, all of which have been seized by the police. The scandal has spotlighted issues of financial fraud and the need for enhanced investor protection.
This sweeping fraud case has not only roiled the financial waters in Assam but has also raised urgent questions about regulatory oversights and the safeguards in place to protect unsuspecting investors. The investigation continues as authorities strive to bring to justice those responsible for this colossal fraud.
Original Story https://assamtribune.com/guwahati/major-shake-up-in-db-stock-broking-fraud-case-police-reassign-case-to-top-cop-1551630
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