The Enforcement Directorate filed its first charge sheet in connection with its money laundering probe against Chinese smartphone maker Vivo-India and some others, Economic Times reported while quoting official sources.
The prosecution complaint has been filed before a special court here on Wednesday under the criminal sections of the Prevention of Money Laundering Act and vivo-India has been named an accused apart from those arrested in this case, the sources told PTI.
Reportedly, the probe agency arrested four persons, including the MD of the Lava International mobile company Hari Om Rai, in this investigation. The others who were taken into custody were Chinese national Guangwen alias Andrew Kuang, Chartered Accountants Nitin Garg and Rajan Malik.
Notably, ED had raided vivo-India and its linked persons in July last year, claiming to have busted a major money laundering racket involving Chinese nationals and multiple Indian companies.
The probe has revealed that Vivo remitted over Rs 1 lakh crore outside India since its inception (2014) to some “trading companies” hired by it to create a layer so that the control of Vivo China over these Indian companies does not come to the notice of government authorities.
In October, a Vivo spokesperson stated that “Vivo firmly adheres to its ethical principles and remains dedicated to legal compliance. The recent arrest deeply concerns us. We will exercise all available legal options.”