In a major development in the DB Stock Consultancy scam, the Central Bureau of Investigation (CBI) on Sunday arrested two individuals from Guwahati—Pushpajit Purkayastha, a former Axis Bank manager, and Sandeep Gupta, a top agent associated with the firm.
The investigation has revealed the duo’s deep involvement in the multi-crore fraud led by the scam’s mastermind, Deepankar Barman. The illegal scheme, run through DB Stock Consultancy, duped over 10,000 investors across India of more than Rs400 crores, promising falsely guaranteed high returns.
Pushpajit Purkayastha, who served as the Branch Manager at Axis Bank’s Rehbari branch, allegedly misused his position to lure clients and investors in Mumbai and Guwahati. Working closely with Barman, he made significant illegal commissions by convincing people to invest in the fraudulent scheme.
Sandeep Gupta, acting as the chief aggregator for DB Stock, reportedly referred over 350 investors, primarily from Dibrugarh, using deceptive promises of high returns. Like Pushpajit, he also earned substantial commissions from the illicit deposits.
The CBI has already filed a chargesheet against the main accused Deepankar Barman, along with his fiancée Monalisha Das, his parents Chabin and Deepali Barman, and Mukesh Agarwal, a chartered accountant, all of whom were instrumental in orchestrating the nationwide scam.
This case continues to unfold as authorities intensify efforts to bring all involved to justice and recover investor funds.
