03
Aug
Mumbai, August 3, 2025 — In a sweeping operation targeting financial market malpractice, the Enforcement Directorate (ED) has arrested Viresh Gangaram Joshi, former chief dealer of Axis Mutual Fund, for his alleged role in a ₹200 crore front-running scam that took place between 2018 and 2021. The arrest is part of a probe under the Prevention of Money Laundering Act (PMLA) and follows coordinated searches across eight major cities.Joshi is accused of exploiting privileged information about Axis Mutual Fund’s upcoming trades to execute pre-emptive transactions using mule accounts and a Dubai-based trading terminal, thereby generating illicit gains at the expense…