Four Individuals Apprehended by Enforcement Directorate in Vivo Money Laundering Investigation
According to official sources, the MD of Lava International mobile company, who is a Chinese national, along with a Chartered Accountant and another individual, have been apprehended by the Enforcement Directorate. This action is a part of the ongoing investigation into money laundering allegations against Chinese smartphone manufacturer Vivo.
They were arrested under the provisions of the Prevention of Money Laundering Act (PMLA).
They are expected to be produced in court here where the ED will seek their custody.
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The agency raided the company and its associates in July last year and claimed to have seized a large money laundering operation involving Chinese nationals and several Indian companies.
The ED had then alleged that Vivo “illegally” transferred a whopping ₹62,476 crore to China to avoid paying taxes in India.
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