Archive · 9 Aug 2025
Former Axis Fund Manager Viresh Joshi Accused of Investor Fraud
Imagine a fund manager named Viresh Joshi who used to work for Axis Mutual Fund.
The government thinks he cheated people who invested money by using secret information to make trades for himself.
They believe he made about 91 crore rupees and put it in his family's bank accounts.
The government has records of 31 accounts that were used in this process.
He was arrested because he is accused of "front-running", which is when someone uses information about upcoming trades to make money for themselves before the trades happen.
This is against the law and hurts investors.
Former Axis Mutual Fund manager Viresh Joshi is accused of cheating investors.
The ED alleges that Rs 91 crore was transferred to Joshi's family accounts.
The ED claims to have details of 31 accounts involved in the transactions.
Joshi was arrested on August 2 for alleged misuse of confidential information.
Joshi is accused of front-running, an illegal practice in securities markets.
- Who
- Viresh Joshi, former chief trader and fund manager of Axis Mutual Fund.
- What
- Viresh Joshi is accused of cheating investors and front-running.
- When
- Joshi was arrested on August 2.
- Where
- Not explicitly mentioned in the provided text.
- Why
- Joshi allegedly misused confidential trading information for personal gain.
- Accused
- Viresh Joshi
- Former Role
- Chief Trader and Fund Manager, Axis Mutual Fund
- Alleged Amount Transferred
- Rs 91 crore
- Accounts Involved
- 31
- Alleged Crime
- Front-running
- Date of Arrest
- August 2