CBI arrests 2 in Rs 400 cr DB stock scam

GUWAHATI: The Central Bureau of Investigation (CBI) has arrested two prime suspects, Pushpajit Purkayastha and Sandeep Gupta, for their suspected role in the huge DB Stock Consultancy scam, a multi-crore illegal deposit scheme masterminded by Deepankar Barman. The two were arrested in Guwahati after thorough investigations into the multi-crore illegal deposit scheme.

Pushpajit Purkayastha, who was formerly a branch manager of Axis Bank’s Rehbari Branch in Guwahati, is charged with misusing his official position to facilitate the ponzi scheme runs of DB Stock Consultancy.

Investigations showed that Purkayastha cooperated with Deepankar Barman to dupe investors under the false guise of high and assured returns. As a facilitator, Purkayastha approached bank customers and investors in Guwahati and Mumbai and influenced them to invest in the scam.

For this, he was paid huge commissions, making an illegal gain by enticing unsuspecting investors into the fraud. Sandeep Gupta, the other prominent figure in the racket, worked as the principal agent and aggregator for DB Stock Consultancy.

Gupta is charged with referring more than 350 investors, mostly from Dibrugarh, to the scam.

Gupta was a key player in raising funds from unsuspecting investors, once again under the guise of guaranteed fat returns.