New Delhi, Aug. 3 -- The Enforcement Directorate (ED) has arrested Viresh Joshi, a former chief trader and fund manager of Axis Mutual Fund, in connection with a 'front-running' case involving alleged cheating of investors to the tune of Rs.200 crore.

Joshi was taken into custody on Saturday under the anti-money laundering law and has been remanded to ED custody until August 8 by a special Prevention of Money Laundering Act (PMLA) court, reported PTI.

The case of front-running involves unethical and illegal practice in the securities market in which brokers or traders execute orders for their personal benefit by using advance knowledge of pending client orders. This malpractice undermines market integrity and puts other investors at a d...