DB Stock Owner Deepankar Barman Suspected of Planning to Flee Country: Reports

Deepankar Barman, owner of DB Stock Broking firm, is suspected of planning to leave the country as reports indicate he might have applied for a visa to escape.

The specific country he intends to flee to has not yet been confirmed, but Guwahati police are concerned that once the visa is approved, Barman could potentially escape accountability.

Pratidin Time also attempted to reach Deepankar Barman by phone, but found it to be switched off.

This development follows serious allegations against Barman and his partner Monalisa, who are accused of defrauding investors across India and Australia. DB Stock, which operates offices in Mumbai, Hyderabad, Bengaluru, Rangia, Nalbari, and other locations, has been under intense scrutiny.

The firm attracted substantial investments ranging from Rs 80 lakh to Rs 69 crore, with Hyderabad seeing up to Rs 25 crore in investments and Australian investors contributing Rs 60 lakh. Promises of high returns—120% annually, 54% over six months, 27% over three months, and 8% monthly—were reportedly made to investors. However, allegations suggest that the Guwahati office, under Barman's management, was used for fraudulent activities.

Barman had previously addressed the situation in a video statement, acknowledging payment delays and promising improvements by September 2024. He stated, “I hope everyone is doing good. There has been a communication gap between me and my clients for the last couple of days. Thus, I thought to share this video as part of my communication. From last couple of days, there has been a delay in payments, thus, clients were little worried. Everything will be normal, one thing I must share that there has been little issue with the service. I am sure, the service will grow up by September this year. We will also hire new employees. Investors’ call will be responded on time.”

Despite these assurances, Barman reportedly locked the office and vanished. Among those affected are two women who had invested Rs 80 lakh and Rs 7 lakh, respectively. The Panbazar Women's Police Station is handling their cases as part of a broader investigation involving a total of 23,000 investors.

Also Read: Investors Left in Lurch as DB Stock's Deepankar Barman Disappears Amid Fraud Claims