Money laundering probe: Vivo alleges 'continued harassment' after fresh ED arrests
Vivo has termed as “continued harassment” the recent arrests made by the enforcement directorate in the prevention of money laundering probe against Chinese smartphone major. The comments came after three more executives, including interim CEO Hong Xuquan and chief financial officer of Vivo’s India operations, were held on Saturday.
«We are deeply alarmed by the current action of the authorities.
The recent arrests demonstrate continued harassment and as such induce an environment of uncertainty amongst the wider industry landscape,» a Vivo spokesperson said in a statement to ET.
«We are resolute in using all legal avenues to address and challenge these accusations,» it added.
The enforcement directorate made three fresh arrests in the money laundering probe against Vivo.
The identity of the three taken into custody was not immediately known.
This comes after the four previous arrests made in the case that include Lava MD Hari Om Rai, Chinese national Andrew Kuang, and chartered accountants Nitin Garg and Rajan Malik.
The four are in judicial custody.
The ED filed a chargesheet against Vivo earlier in December alleging it has remitted Rs 1 lakh crore outside India between 2014 and 2021. The court has taken cognisance of the chargesheet.
