The Enforcement Directorate (ED) in Guwahati has provisionally attached assets worth Rs 13.41 crore in connection with a money laundering probe linked to ' DB Stock Consultancy' and its proprietor Deepankar Barman.
The action was taken under the Prevention of Money Laundering Act (PMLA), 2002. The case originates from an FIR registered at Paltan Bazar Police Station in August 2024, which was later taken over by the Central Bureau of Investigation (CBI).
According to ED findings, DB Stock Consultancy was running an unregulated deposit scheme in Guwahati between 2021 and August 2024. The firm allegedly lured investors with promises of unusually high returns, ranging from 1.25% per week to as much as 120% annually.
Investigators said the accused used aggressive promotion through educational institutions, WhatsApp groups and personal networks to attract investors. Around 15,500 individuals from across the country were reportedly duped, with total deposits estimated at Rs 400.14 crore.
The ED stated that the firm operated a classic Ponzi scheme, where funds collected from new investors were used to pay earlier investors. The company had no legitimate source of income and was neither registered as a Non-Banking Financial Company (NBFC) nor authorised by the Reserve Bank of India (RBI) to accept public deposits.
The main accused, Deepankar Barman, allegedly went absconding on August 18, 2024, after the scheme collapsed, leaving thousands of investors without their money. He was later arrested by Assam Police and the CBI.
The attached assets include immovable properties worth Rs 8.71 crore, comprising flats, land and office spaces in Guwahati, Hyderabad and Visakhapatnam, as well as movable assets worth Rs 4.70 crore. These include 27 bank accounts holding Rs 4.04 crore and investments in mutual funds and equities worth Rs 66 lakh.
Further investigation into the case is currently underway.
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