{"id":16984,"date":"2025-11-07T12:23:00","date_gmt":"2025-11-07T06:53:00","guid":{"rendered":"https:\/\/trending.niftytrader.in\/?p=16984"},"modified":"2025-11-07T12:24:20","modified_gmt":"2025-11-07T06:54:20","slug":"surat-prop-trading-scam-green-wall-150-crore-loss","status":"publish","type":"post","link":"https:\/\/www.niftytrader.in\/markets\/surat-prop-trading-scam-green-wall-150-crore-loss\/","title":{"rendered":"Surat Prop Trading Scam Spreads Nationwide, Losses May Exceed \u20b9150 Crore"},"content":{"rendered":"

The Surat-based Green Wall Enterprises<\/em> scam has taken a nationwide turn, with the total losses now estimated to exceed \u20b9150 crore. The fallout has affected leveraged traders across cities, including NCR, Jaipur, Ranchi, and Kolhapur. What initially appeared to be a small-scale issue of around \u20b95 crore has now turned into a large-scale crisis within India\u2019s prop trading ecosystem.<\/p>\n

Green Wall\u2019s Disappearance Sparks Panic<\/strong><\/h2>\n

In August, the sudden disappearance of Green Wall Enterprises\u2019 key persons<\/em> \u2014 Nimit Shah and Hiren Jadav \u2014 left traders shocked. Many traders believed Green Wall was a branch or associated entity of Jainam Broking Ltd<\/em> due to its branding and hoardings.<\/p>\n

However, Jainam Broking swiftly issued a clarification denying any association with Green Wall. In an email response, the company stated:<\/p>\n

\n

\u201cGreen Wall Enterprises was not our agent. Green Wall is not associated with us in any manner, and no transaction was done with them. Since there is no relationship between Green Wall and Jainam Broking Ltd, we are not responsible for any transaction done with Green Wall, iTrade Associates, or Darshan Joshi.\u201d<\/p>\n

Also Read:<\/strong> Tesla Shareholders Approve $1 Trillion Pay Package for Elon Musk<\/a><\/em><\/p><\/blockquote>\n

Key Players and Victims Speak Out<\/strong><\/h2>\n

Moneycontrol reached out to Darshan Joshi<\/em> (alias DJ) of iTrade Associates<\/em> and iTrade Capital<\/em>, who claimed he is also a victim of the scam. Joshi said he is in touch with affected investors and has filed a complaint with the Surat Police, with another FIR being filed in Noida.<\/p>\n

Meanwhile, one of the victims, Krishan Yadav<\/em>, a former merchant navy captain, explained how the trading model worked. According to him, iTrade Associates<\/em> arranged F&O trading terminals and collected margin money on behalf of Green Wall. The funds were allegedly routed through DB Wealth<\/em> and Ashapura Commodities<\/em> to Jainam Stock Broking<\/em>, though Jainam denied any involvement.<\/p>\n

Yadav revealed, \u201cI invested all my life savings there, but now not only my capital is gone, even my trading income stream has disappeared.\u201d<\/p>\n

How the Scam Unfolded?<\/strong><\/h2>\n

After the collapse of Green Wall Enterprises<\/em> on August 14, trading terminals were suddenly disabled, blocking traders from executing or closing their positions. The disappearance of Shah and Jadav left hundreds of investors stranded. Following multiple complaints, FIRs were registered<\/em>, and one of the key accused, Hiren Jadav<\/em>, was arrested. However, Nimit Shah remains absconding<\/em>.<\/p>\n

Expanding Losses and Industry Concerns<\/strong><\/h2>\n

While the scam was initially pegged at \u20b95 crore, industry insiders now estimate losses around \u20b9150 crore<\/em>. Many affected traders reportedly transferred funds informally, in cash or personal accounts, making recovery and investigation more complex.<\/p>\n

Some market sources suggest that a few victims might have been quietly compensated by broking intermediaries, although there is no official confirmation. Such informal practices are reportedly common across smaller trading networks.<\/p>\n

Regulatory Questions and SEBI\u2019s Role<\/strong><\/h3>\n

The growing scale of this scam raises serious regulatory concerns. Experts question whether such models exploit grey areas<\/em> in trading regulations or simply reflect blatant disregard for market laws<\/em>. Despite SEBI\u2019s frequent inspections and penalties on brokers, incidents like this suggest that loopholes still exist.<\/p>\n

The Economic Offences Wing (EOW)<\/em> of Surat Police continues to investigate the case. More stories are expected to emerge as authorities dig deeper into the misuse of \u201cprop trading\u201d setups operating outside regulatory oversight.<\/p>\n

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The Surat-based Green Wall Enterprises scam has taken a nationwide turn, with the total losses now estimated to exceed \u20b9150 crore. The fallout has affected leveraged traders across cities, including NCR, Jaipur, Ranchi, and Kolhapur. What initially appeared to be a small-scale issue of around \u20b95 crore has now turned into a large-scale crisis within […]<\/p>\n","protected":false},"author":2,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[615],"tags":[],"ppma_author":[1329],"class_list":{"0":"post-16984","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-stock-market-news"}," _eael_post_view_count":0,"authors":[{"term_id":1329,"user_id":2,"is_guest":0,"slug":"snehagandhi","display_name":"Sneha Gandhi","avatar_url":{"url":"https:\/\/trending.niftytrader.in\/wp-content\/uploads\/2025\/10\/Sneha-Gandhi.jpeg","url2x":"https:\/\/trending.niftytrader.in\/wp-content\/uploads\/2025\/10\/Sneha-Gandhi.jpeg"},"0":null,"1":"","2":"","3":"","4":"","5":"","6":"","7":""}],"_links":{"self":[{"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/posts\/16984","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/comments?post=16984"}],"version-history":[{"count":2,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/posts\/16984\/revisions"}],"predecessor-version":[{"id":16987,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/posts\/16984\/revisions\/16987"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/media\/16985"}],"wp:attachment":[{"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/media?parent=16984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/categories?post=16984"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/tags?post=16984"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/ppma_author?post=16984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}