Archive · 1 Aug 2025
ED Raids Nationwide in Axis Mutual Fund Front-Running Probe
Imagine someone working for a big investment company knew what stocks the company was going to buy or sell.
Before the company made its move, this person would secretly buy or sell those stocks for themselves, making a profit from the company's trades.
This is called front-running and is illegal.
Now, authorities are investigating this at Axis Mutual Fund, where it's believed people used inside information to make over ₹200 crore.
They are raiding different places across the country to find evidence and recover the money.
ED is conducting raids nationwide in connection with the Axis Mutual Fund front-running scam.
The investigation is under the Prevention of Money Laundering Act (PMLA).
Raids are happening in multiple cities, including Delhi and Ahmedabad.
The probe is based on a Mumbai Police FIR from December 2024.
The alleged scam involved fund manager Viresh Joshi exploiting confidential trade information for personal gain.
- Who
- The ED is investigating the front-running activities allegedly involving Viresh Joshi and other traders and brokers.
- What
- ED is conducting raids in connection with the Axis Mutual Fund front-running scam.
- When
- The raids began recently as part of an ongoing investigation.
- Where
- Multiple locations across India including Delhi, Ahmedabad, and Mumbai.
- Why
- To investigate money laundering and illegal profits made through front-running trades.
Parties Involved
Accused
Views
Parties Involved
Investors and the mutual fund itself, who were allegedly cheated.
Accused
Accused individuals who may deny involvement or claim innocence.
- Agency
- Enforcement Directorate (ED)
- Case
- Axis Mutual Fund Front-running Scam
- Legislation
- Prevention of Money Laundering Act (PMLA)
- Locations Searched
- Multiple cities including Delhi, Ahmedabad
- Alleged Mastermind
- Viresh Joshi
- Estimated Proceeds of Crime
- ₹200 crore+
