In India, four vivo executives were detained on suspicion of money laundering
Reportedly, the Chinese smartphone manufacturing company Vivo is in trouble in India. According to some recent pieces of information, four executives of Vivo were arrested in India. The executives were arrested by India’s financial agency. Notably, the arrested officials even include a Chinese national. They are accused of money laundering. The case began in 2022 when Vivo’s offices were searched by India’s Enforcement Directorate for signs of money laundering.
The company stated that it is extending its support to Indian authorities to resolve this matter. According to the statement, the company urges the authorities to abide by ethical principles. Vivo stated that it will pursue all legal options while supporting the local agencies. According to the available information, just one of the four officials is in custody. The prosecutor urged the judge to grant 10 days of judicial custody for the Chinese official. However, the court only granted custody for 3 days.
When it comes to malpractices in India, Vivo is not the only company. It has been reported by some other companies, like Oppo. The investigations take place in the midst of escalating tensions between Beijing and New Delhi, which are not only motivated by economic factors but also by a long-standing border conflict in the Himalayas that has recently seemed to spiral out of control.
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