Four vivo executives arrested in India over alleged money laundering
India"s financial agency arrested four vivo executives, including a Chinese national, over alleged money laundering. The case dates back to 2022 when India"s Enforcement Directorate raided vivo"s offices in search for evidence of money laundering.
In a statement, vivo said it"s continuing its cooperation with India"s authorities on the matter and insists that it maintains its ethical principles, but will still exercise all of its legal options.
Only one of all four arrested remains in custody, though, and that"s the Chinese citizen. The prosecutor requested 10 days of custody, but the judge granted only 3 days.
vivo isn"t the only one accused of malpractice in the country as Oppo is facing issues as well. The investigations come amid rising Beijing-New Delhi tensions, which are not only economically related but involve a decades-old border dispute in the Himalayas that seems to be getting out of hand lately.
