ED arrests four persons in money laundering case against Chinese phone-maker Vivo dailyexcelsior.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailyexcelsior.com Daily Mail and Mail on Sunday newspapers.
Lava: The agency had raided Vivo 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 ED had then alleged that a whopping Rs 62,476 crore was "illegally" transferred by Vivo to China in order to avoid payment of taxes in India.
The crackdown on the leading Chinese company came after the federal probe agency found that three Chinese nationals, all of whom left India during 2018-21, and one other person from that country incorporated as many as 23 companies in India in which they were also helped by a Chartered Accountant,