Vivo Money-Laundering Case: The four arrested
people included the Lava International MD Hari Om Rai, Chinese national
Guangwen alias Andrew Kuang, and Chartered Accountants Nitin Garg and Rajan
Malik.
New Delhi: The Enforcement Directorate (ED)
Tuesday made significant arrests in connection with a money-laundering probe
against smart phone-maker Vivo. Sources told News Agency that their activities
were detrimental to India's economic sovereignty.
The four arrested included the Managing
Director of Lava International, Hari Om Rai, Chinese national Guangwen alias
Andrew Kuang, and Chartered Accountants Nitin Garg and Rajan Malik.
The ED substantiated
its case before a local court by claiming that the activities of these four
individuals had enabled Vivo, India, to make wrongful gains through alleged
money laundering activities.
ED's made
allegations that Vivo, India, had "illegally" transferred a
staggering ₹62,476 crore to China to evade taxes in India, suggesting
activities detrimental to India's economic sovereignty.
In
July last year, the Enforcement Directorate (ED) initiated a major raid
targeting Vivo, an Indian smartphone-maker, and several associated entities.
The aim was to uncover a substantial money laundering operation involving
Chinese nationals and multiple Indian companies.
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Credit: ZEE NEWS
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