Online Trading Scam Unlocked: Chargesheet filed against 5 including CA

On Sunday, the Central Bureau of Investigation (CBI) arrested two individuals involved in an online trading scam, the investing agency clarified on Monday.

The head of this scam was Deepankar Barman, the owner of DB Stock Consultancy, and he was taken into custody from Goa in October of the previous year. After that, he escaped for almost four months, and later on, he was again taken into custody.

During the period of investigation, the involvement of Pushpajit Purkayastha and Sandeep Gupta in the case was also discovered by the agency.

The central investigating agency said that Purkayastha, the former Branch Manager of Axis Bank’s Rehabari Branch in Guwahati, was found to have collaborated with DB Stock Consultancy to ask for deposits from the public with untrue promises of high returns.

As per the investigation, the plan of the mastermind, named Deepankar Barman, attracted the customers and investigators to invest in the scheme with false promises of high returns.

The Central Bureau of Investigation (CBI) stated in press communication a huge amount of money was earned by the accused through illegal means such as commission and taking innocent investors into their fraud scheme. He managed his clients and investors in Mumbai and Guwahati and misused his position to help carry out these dishonest activities.

Sandeep Gupta, the main agent and coordinator for DB Stock Consultancy, was found to have worked closely with the main accused,i.e., Deepankar Barman, and others to run DB Stock, an illegal money deposit scheme, as said by CBI.

According to the CBI, Gupta managed clients and investors from Dibrugarh, bringing in over 350 people and collecting money from them by making false promises of high returns. The investigation showed that he earned several lakhs in commission for bringing in these investors and deposits through his network.

The CBI has already filed a chargesheet against the main accused, Deepankar Barman, along with his fiance Monalisha Das, his parents Chabin and Deepali Barman, and Mukesh Agarwal, a Chartered Accountant.

Deepankar Barman, the owner of DB Stock, is accused of cheating more than 10,000 people across India out of over Rs 400 crore by convincing them to invest in a fake and unregulated deposit scheme. He promised fixed high returns but later failed to repay the investors.