Why Do People Cheat?

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Axis Mutual Fund's remuneration report for FY22 lists every employee that earned more than 1.2 crore rupees. Chief dealer like Veresh Joshi features in the list too, but if you pull out the same report from the previous couple of years, he is nowhere to be found. One explanation could be thatVeresh Joshi was promoted to also managing mutual fund schemes in 2019. And these weren't hugely popular ones too.

10 months ago, we wrote about the front-running scandal that rocked Axis Mutual Fund. Now SEBI, the capital markets regulator, has published a 96-page report of their initial findings and we just couldn’t ignore it.

So in today’s episode for 3rd March 2023, we dive into the murky world of front-running once again. But take it one step further — why do people indulge in such practices?

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