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In an intensifying money laundering case involving Vivo-India, the Enforcement Directorate (ED) has taken three individuals into custody under the Prevention of Money Laundering Act (PMLA), adding to the mounting woes for the Chinese smartphone maker.
Sources reported by PTI revealed the recent arrests made by the federal agency, though the identities of the detainees remain undisclosed. Earlier arrests in the case included Lava International’s MD Hari Om Rai, Chinese national Guangwen (Andrew Kuang), and chartered accountants Nitin Garg and Rajan Malik, all of whom are presently in judicial custody.
The ED recently filed a charge sheet against these individuals, including Vivo-India, marking the smartphone company as the principal accused in the money laundering case. The charge sheet was presented before a special PMLA court in Delhi, which duly acknowledged the case.
During court proceedings in October, the ED disclosed that Vivo had allegedly siphoned off a staggering $13 billion by concealing profits over an extended period. The agency further accused several individuals affiliated with Vivo of misrepresenting their employment status while applying for Indian visas.
As per ED’s revelations during court hearings, around 30 Chinese nationals, working as Vivo employees, entered India on business visas without disclosing their association with the company. The agency highlighted these individuals’ travels across various regions, including sensitive areas like Jammu and Kashmir and Ladakh, in apparent violation of Indian visa conditions.
The ongoing investigation continues to unravel alleged irregularities in Vivo-India’s operations, drawing attention to purported financial misconduct and visa violations, further intensifying the legal entanglement faced by the Chinese smartphone giant.
Sources By Agencies
