Axis MF ex-fund manager misused COVID-19 WFH norms to commit ₹107 crore fraud: ED

The Enforcement Directorate told a special PMLA court that Viresh Joshi, former fund manager at Axis Mutual Fund, exploited remote working conditions during COVID-19 to commit a ₹106.74-crore fraud. Taking cognisance of ED's chargesheet, the court permitted the case to proceed further. Joshi, along with his associates, allegedly made illegal profits by using sensitive data from Axis MF.