ED Seizes ₹13.41 Crore in Assam Ponzi Scheme Investigation

Guwahati, March 24: The Enforcement Directorate (ED) has temporarily seized assets worth ₹13.41 crore linked to a significant Ponzi scheme involving DB Stock Consultancy and its owner, Dipankar Barman. This action was taken by the ED’s regional office in Guwahati on Tuesday.

The seizure falls under the Prevention of Money Laundering Act (PMLA) of 2002. The ED’s move follows an ongoing investigation into fraudulent activities involving irregular deposit schemes.

According to the ED, the seized assets include approximately ₹8.71 crore in real estate, comprising 13 properties such as flats, land, and office spaces located in Guwahati, Hyderabad, and Visakhapatnam.

Additionally, around ₹4.7 crore in liquid assets has been confiscated. This includes 27 bank accounts valued at ₹4.03 crore and mutual fund and equity investments totaling approximately ₹66.45 lakh.

The investigation commenced based on an FIR registered at the Paltan Bazar police station in Guwahati, which was later taken over by the Central Bureau of Investigation (CBI).

This case pertains to offenses under the Indian Penal Code, 2023, and the Prohibition of Irregular Deposit Schemes Act, 2019.

The inquiry revealed that DB Stock Consultancy operated an irregular deposit scheme from 2021 to August 2024, enticing investors with promises of extraordinarily high returns ranging from 1.25% weekly to 120% annually.

Officials reported that the firm raised deposits from approximately 15,500 investors across India, accumulating nearly ₹400.14 crore through aggressive promotion via seminars, social media platforms, and referral networks.

An ED official stated that the organization was running a classic Ponzi scheme, using funds collected from new investors to pay returns to older investors. It lacked any legitimate business model to sustain such returns.

Dipankar Barman, the accused, reportedly fled after the scheme collapsed but was later apprehended by Assam police and the CBI.

The central agency has confirmed that further investigations into the case are ongoing.