Absconding Scamster Dipankar Barman Arrested in Goa; To Be Brought to Assam Today

The DB Stocks scam involves alleged deceit of investors, many of whom were promised lucrative returns that never materialized.

After two-month long intense search, Dipankar Barman, the elusive mastermind behind the multi-crore DB Stock Broking online trading scam, was apprehended in Goa yesterday.

Barman, who had been on the run since August, was arrested by a team from Guwahati Police with critical support from Goa’s Crime Branch. His arrest marks a significant breakthrough in Assam’s fight against online trading fraud that has impacted numerous investors across the region.

Assam’s Director General of Police (DGP), GP Singh, took to social media to announce the arrest, stating, “The run has ended for Dipankar Barman,” underscoring the concerted efforts of Assam and Goa’s law enforcement agencies. Barman’s apprehension comes amid escalating concerns from affected investors, whose grievances brought the scam to light in August after they reported not receiving their due returns and finding the DB Stock office mysteriously closed since August 21.

Today, Assam Police will seek a transit remand at a Goa court to facilitate Barman’s return to Assam, where he is expected to land in Guwahati later this afternoon. Following his procedural medical examination, Barman will be transported to Assam for further investigation.

The Assam Cabinet has recently assigned this high-profile case, along with other online trading fraud cases, to the Central Bureau of Investigation (CBI) for a deeper probe. The DB Stocks scam involves alleged deceit of investors, many of whom were promised lucrative returns that never materialized. Authorities believe that Barman was operating a sophisticated fraud network, which involved not only DB Stock Broking but also other individuals and entities that are now under investigation.

The fraud’s scale has already led to the arrest of Barman’s parents, along with Mukesh Agarwala, a chartered accountant, who was allegedly overseeing financial planning for DB Stock Broking. Meanwhile, investigators have seized substantial evidence from Barman’s associates, adding pressure on the central investigation.

Several other individuals implicated in Assam’s expanding online trading fraud investigations are likely to appear before a CBI court in Guwahati on October 30. Bishal Phukan, Sumi Bora, and Ranjit Kakoti, among others, were arrested for their alleged involvement in similar trading scams.

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