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

In a significant development, Deepankar Barman, owner of DB Stock Broking firm, and his partner Monalisa are facing serious allegations of defrauding investors across India and Australia. The firm, which has offices in Mumbai, Hyderabad, Bengaluru, Rangia, Nalbari, and other locations, has come under intense scrutiny following these claims.

DB Stock attracted substantial investments ranging from Rs 80 lakh to Rs 69 crore. Notably, Hyderabad saw investments totaling up to Rs 25 crore, while Australian investors contributed Rs 60 lakh. The firm promised high returns to investors: 120% annually, 54% over six months, 27% over three months, and 8% monthly. However, it is alleged that the Guwahati office, managed under Barman's direction, was utilized for fraudulent activities.

Barman had previously addressed the issue in a video statement, acknowledging 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 disappeared.

Among those affected are two women who had invested Rs 80 lakh and Rs 7 lakh, respectively. The Panbazar Women's Police Station is currently handling their cases as part of a broader investigation involving a total of 23,000 investors.

Also Read: DB Stock Broking Fraud: Guwahati Police Detain Woman; Rs 7,000 Cr Scam Exposed