More than fifty investors have collectively lost Rs 4.84 crore after being cheated by a share trading company in Surat. The accused operated under the name Green Wall Enterprise, reportedly managing accounts on behalf of Jainam Broking Ltd. One of the main accused, Hiren Jadav, was arrested on Sunday, while his business partner, Nimit Shah, remains at large as police intensify their search. The scam came into public attention after several affected investors reported the losses, creating widespread concern among the trading community in Gujarat and beyond.

How the Fraud was Carried Out

Investigations show that the owners of Green Wall Enterprise lured investors by promising the ability to trade for Rs 50 lakh against a deposit of Rs 5 lakh, paying attractive interest rates ranging from 6% to 18%. Many brokers and clients, seeing regular interest payments in the beginning, were convinced of the firm’s authenticity. Stockbroker Rutvij Kothari, who was introduced to Jainam Broking Ltd by another broker, became an agent for Green Wall Enterprise in November 2024. As his faith in the business grew, he encouraged friends and clients to invest, resulting in a transfer of Rs 2.53 crore from 25 of his clients to Jainam Trading via Green Wall Enterprise. Apart from Kothari’s group, 29 other investors deposited an additional Rs 2.11 crore.

The fraud came to light on August 14, 2025, when Kothari and other investors suddenly lost access to their trading accounts. Attempts to reach Nimit Shah were unsuccessful, and panic set in as investors realised their funds were not being returned. The accused had not only blocked their accounts but also failed to repay deposits or any remaining money. This left dozens of investors facing heavy losses.

Police Action and Investor Warning

Surat police swiftly launched an investigation after receiving the complaints, handing the case to the Economic Offences Cell. Criminal breach of trust and conspiracy charges were filed against the accused. With the arrest of Hiren Jadav, authorities are hopeful about unravelling the complete chain of the scam and bringing the other accused to justice.

Police have also called on all affected investors from various cities, such as Rajkot, Delhi, Mumbai, Surendranagar, and Ahmedabad, to come forward with information and help in the ongoing enquiry. Early reports suggest that the total amount involved in this racket could ultimately exceed Rs 50 crore, pointing to a much larger operation than initially suspected.

Authorities and financial experts are now urging the public to verify the credentials of any investment or trading firm before depositing their money. It is essential to be cautious with unusually high returns, check for registration with regulatory bodies, and avoid making deposits without proper due diligence. With scams like these on the rise, education and vigilance remain the best defences for Indian investors.

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