Enforcement Directorate Freezes Rs 13.41 Crore in Assam Ponzi Scheme
Synopsis
In a major crackdown, the ED has provisionally attached assets worth Rs 13.41 crore linked to a ponzi scheme by DB Stock Consultancy, revealing how thousands of investors were misled. This highlights the ongoing battle against financial fraud in India.
Key Takeaways
The ED has attached assets worth Rs 13.41 crore linked to DB Stock Consultancy.
The investigation is based on allegations of unregulated deposit schemes.
Investors were promised unrealistic returns of up to 120 percent annually .
Deepankar Barman has been arrested after allegedly fleeing.
The case highlights the need for stringent regulations to protect investors.
Guwahati, March 24 (NationPress) The Guwahati Zonal Office of the Enforcement Directorate (ED) has provisionally seized assets totaling Rs 13.41 crore linked to a significant ponzi scheme involving M/s DB Stock Consultancy and its owner, Deepankar Barman, according to officials on Tuesday.
The action was executed under the Prevention of Money Laundering Act (PMLA), 2002, as part of an ongoing investigation into the alleged fraudulent activities targeting investors through unregulated deposit schemes.
The ED reported that the seized assets encompass immovable properties valued at approximately Rs 8.71 crore, which include 13 properties such as apartments, land, and office spaces situated in Guwahati, Hyderabad, and Visakhapatnam.
Additionally, movable assets worth around Rs 4.7 crore have been confiscated, which include 27 bank accounts holding Rs 4.03 crore and mutual fund and equity investments amounting to about Rs 66.45 lakh.
The ED's investigation commenced following an FIR lodged at the Paltan Bazar Police Station in Guwahati, which was subsequently taken over by the Central Bureau of Investigation (CBI).
The case involves violations under relevant sections of the Bharatiya Nyaya Sanhita, 2023, and the Banning of Unregulated Deposit Schemes Act, 2019.
Investigations disclosed that DB Stock Consultancy engaged in an unregulated deposit scheme from 2021 to August 2024, enticing investors with promises of exceptionally high returns ranging from 1.25 percent weekly to up to 120 percent annually.
Officials indicated that the firm attracted deposits from nearly 15,500 investors nationwide, amassing around Rs 400.14 crore through aggressive marketing via seminars, social media, and referral networks.
"The organization functioned as a classic ponzi scheme, utilizing funds from new investors to pay returns to earlier investors, without any legitimate business model to support such returns," stated an ED official.
Deepankar Barman, the accused, reportedly fled after the scheme's failure but has since been apprehended by the Assam Police and the CBI.
The investigation into the case is currently ongoing, as confirmed by the central agency.
Point of View
This incident brings to light the critical need for regulatory oversight in financial markets. The case exemplifies the vulnerabilities faced by investors and the importance of safeguarding against fraudulent schemes that exploit trust and promise unrealistic returns.
NationPress
9 May 2026
Frequently Asked Questions
What is the ponzi scheme associated with DB Stock Consultancy?
DB Stock Consultancy operated an unregulated deposit scheme that promised high returns, luring investors with unsustainable financial incentives.
How much money has the ED attached in this case?
The Enforcement Directorate has provisionally attached assets worth Rs 13.41 crore.
Who is Deepankar Barman?
Deepankar Barman is the proprietor of DB Stock Consultancy, allegedly responsible for the ponzi scheme.
What laws have been violated in this case?
The case involves offences under the Prevention of Money Laundering Act, the Bharatiya Nyaya Sanhita, 2023, and the Banning of Unregulated Deposit Schemes Act, 2019.
How many investors were affected?
Nearly 15,500 investors from across India were affected by the scheme.
