ED arrests three in money laundering probe against Vivo, others

The Enforcement Directorate has expanded its money laundering investigation into Chinese smartphone maker Vivo and others, confirming three new arrests, as per official sources on Saturday.

Under the provisions of the Prevention of Money Laundering Act (PMLA), the trio have been apprehended, but their identities were not immediately disclosed.

Prior to these latest arrests, the federal agency had already detained four individuals in connection with the case. Among them are Hari Om Rai, the Managing Director of mobile company Lava International, Chinese national Guangwen, also known as Andrew Kuang, and chartered accountants Nitin Garg and Rajan Malik. These individuals, currently in judicial custody, have been summoned by Special Judge Kiran Gupta for February 19.

Earlier this week, a Delhi court officially recognised the charge sheet filed by the Enforcement Directorate (ED) against Chinese smartphone maker Vivo-India and other implicated parties in a money laundering inquiry.

According to the ED, the actions attributed to these four individuals led to wrongful gains for Vivo-India, impacting the economic sovereignty of the nation.

Last July, the anti-money laundering agency conducted raids on Vivo-India and its affiliates, uncovering a significant money laundering network involving Chinese nationals and several Indian companies.

At that time, the ED alleged that an enormous sum of Rs 62,476 crore was “illegally” transferred by Vivo-India to China, allegedly to evade taxes in India.

In response, the company firmly refuted these accusations, emphasising its commitment to ethical principles and compliance with the law. PTI