Sebi fines former Axis MF chief dealer, aides in ₹30.56 crore front-running case

SEBI imposed penalties totalling Rs 7.4 crores and market bans on former Axis Mutual Fund chief dealer Viresh Joshi and others after concluding a front-running probe that generated illegal gains of Rs 30.56 crore between September 2021 and March 2022. Joshi allegedly leaked confidential trade details to Dubai-based trader Prijesh Kurani, who executed front-running trades through multiple accounts, with Visa Capital Partners accounting for the largest share of profits. The investigation relied on call detail records, WhatsApp chats, a whistleblower complaint, and recorded statements to establish the scheme.