CBI Cracks ₹400 Crore DB Stock Scam: Axis Bank Ex-Manager, Agent Held in Guwahati
Pushpajit Purkayastha and Sandeep Gupta arrested for aiding ₹400 crore DB Stock Consultancy scam under the shadow of false high-return promises.
BNH NETWORK
Investigation reveals deep-rooted collusion between bank insiders and illegal financial operators in the high-profile DB Stock scam.
FACT FILE: DB Stock Consultancy Scam Overview
| Point | Details |
|---|---|
| Scam Amount | Over ₹400 Crores |
| Number of Victims | 10,000+ investors nationwide |
| Mastermind | Deepankar Barman |
| Arrested Individuals (Latest) | Pushpajit Purkayastha, Sandeep Gupta |
| Role of Pushpajit Purkayastha | Former Axis Bank Branch Manager, investor recruiter |
| Role of Sandeep Gupta | Main agent & aggregator, 350+ investor network |
| Previous Chargesheet Filed Against | Deepankar Barman, Monalisha Das, Chabin & Deepali Barman, Mukesh Agarwal |
CBI Nabs Two More in ₹400 Crore DB Stock Consultancy Scam
The Central Bureau of Investigation (CBI) has intensified its probe into the sensational DB Stock Consultancy fraud case by arresting Pushpajit Purkayastha and Sandeep Gupta in Guwahati on April 13, 2025. The arrests expose the systemic manipulation and collusion behind one of the largest financial scams in Assam.
Ex-Axis Bank Manager Accused of Investor Recruitment
Pushpajit Purkayastha, a former Branch Manager at Axis Bank's Rehbari branch, allegedly used his position to convince clients and investors in Guwahati and Mumbai to deposit funds in DB Stock, under the false promise of fixed high returns. He earned heavy commissions for each successful referral.
Agent Sandeep Gupta Referred 350+ Investors
Sandeep Gupta acted as a crucial middleman in the fraud, helping mastermind Deepankar Barman expand the investor base, especially in Dibrugarh. Gupta lured over 350 individuals into the illegal scheme, raking in lakhs in commissions.
The Big Picture: ₹400 Crore, 10,000+ Victims
The scam, allegedly run by Deepankar Barman and his inner circle, swindled over ₹400 crores from more than 10,000 investors across India. The group exploited public trust with fake investment schemes promising guaranteed profits, only to default later.
Prior Chargesheets Filed in the Scam
The CBI had earlier filed a detailed chargesheet naming Deepankar Barman, his fiancée Monalisha Das, his parents Chabin and Deepali Barman, and Chartered Accountant Mukesh Agarwal for orchestrating the multi-crore fraud.
