Finshots Daily The ₹150-crore prop-trading scam
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Nov 15, 2025 Dive into a jaw-dropping prop-trading scam that unraveled in Surat, where false promises and astronomical leverage lured traders into financial chaos. The scheme, led by Darshan Joshi, exploited misplaced trust, with funds flowing through a web of fake accounts and brokers. As the operation collapsed, losses soared to a staggering ₹150 crore, revealing not just individual misfortune but systemic malpractice. Discover the psychology behind the trust and the essential red flags traders overlooked in this cautionary tale.
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Surat Office That Wasn't What It Seemed
- Traders at a Surat office believed they were using a reputable broker terminal and huge institutional limits.
- Those terminals were fake and the operation ran through an agent called Darshan Joshi (DJ).
Prop Desks Aren't Meant For Outsiders
- Prop desks are meant for brokers' own capital and flexible internal risk, not for outsiders.
- Some brokers let outside traders use prop limits, creating a black-market for extreme leverage and hidden risk.
Money Routed Through Agents And Disappeared
- Traders handed 20–50 lakh to agents like DJ to access broker prop limits and massive leverage.
- When Greenwall's principals vanished, terminals froze and money was found in informal channels, not regulated accounts.