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ED Arrests Axis MF Ex-Manager
Financial Express Bengaluru
|August 04, 2025
VIRESH JOSHI, a former chief trader and fund manager of Axis Mutual Fund, has been arrested under the anti-money laundering law in a case linked to alleged cheating of investors to the tune of ₹200 crore by ‘front-running’ in trade activities, the Enforcement Directorate (ED) said on Sunday.
A special Prevention of Money Laundering Act (PMLA) court has sent Joshi, who was taken into custody on Saturday, to ED custody till August 8, the agency said.
Front-running refers to an unethical and illegal practice in the securities market in which brokers or traders execute orders for their own benefit using advance knowledge of pending client orders. This malpractice compromises market integrity and disadvantages other investors.
This story is from the August 04, 2025 edition of Financial Express Bengaluru.
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