₹150 Cr Prop-Trading Scam in Surat Revealed

An alleged prop-trading fraud originating in Surat, Gujarat, is now estimated to have cost investors over ₹150 crore and spread across multiple cities. 

At the heart of the scandal is Green Wall Enterprises (also known as Greenvol) and its promoter duo Nimit Shah and Hiren Jadav. They allegedly lured traders with “funded account” offers—promising high daily returns and allowing them to trade large sums against small deposits. 

The scheme worked through unregistered agents like iTrade Associates, channeling funds via brokerages such as Jainam Stock Broking Ltd—though the brokerage has denied any formal link. 

In August 2025, trading terminals were suddenly blocked, and key personnel vanished from contact. This triggered widespread panic among investors in Delhi NCR, Jaipur, Ranchi and beyond. 

The case is now being investigated by various state Economic Offences Wings (EOWs). Authorities warn this points to growing risks in the unregulated prop-trading market and urge traders to exercise caution.