CBI Arrests Two in ₹400 Crore DB Stock Scam; Investigation Reveals Deep Financial Fraud

The Central Bureau of Investigation (CBI) has arrested two individuals—Pushpajit Purkayastha and Sandeep Gupta—in Guwahati for their alleged roles in the massive DB Stock Consultancy scam. The arrests come as part of a broader probe into the fraudulent investment scheme masterminded by Deepankar Barman, which duped over 10,000 investors nationwide and caused losses exceeding ₹400 crore.

Pushpajit Purkayastha, a former branch manager of Axis Bank’s Rehbari Branch in Guwahati, allegedly misused his position to collaborate with DB Stock Consultancy in collecting public deposits by promising unrealistically high returns. Investigators found that he worked closely with Deepankar Barman to convince bank customers and investors—particularly in Guwahati and Mumbai—to invest in the bogus scheme. In return, he earned hefty commissions for bringing in unsuspecting clients.

Sandeep Gupta, identified as the chief agent and aggregator for DB Stock Consultancy, played a crucial role in expanding the fraudulent network. Operating primarily out of Dibrugarh, he allegedly referred over 350 investors and collected large sums of money under false assurances of guaranteed profits. Gupta too received substantial commissions for his involvement.

The CBI has already filed a chargesheet against Deepankar Barman, along with his fiancée Monalisha Das, his parents Chabin and Deepali Barman, and chartered accountant Mukesh Agarwal. Deepankar, who owned and operated DB Stock Consultancy, is accused of orchestrating one of the country’s largest unregulated deposit scams by luring investors with fake promises of fixed high returns and then defaulting on the payments.

The investigation is ongoing, with further arrests and financial audits expected in the coming weeks.