Recently, Chinese smartphone companies have been facing serious accusations. In this sense, Vivo CFO is facing an important accusation in India. However, according to preliminary information, the operation carried out in India is not directly related to the brand. Accordingly, security forces decided to arrest Vivo India management and CFO for alleged money laundering.
Vivo India senior management arrested for money laundering
Vivo, one of the important players in the smartphone market, is facing a shocking accusation in India. Judging by the initial information, the incident has no connection with Vivo headquarters. Accordingly, India has issued an arrest warrant for Vivo India management for alleged money laundering worth $120 million.
ED, India’s financial crimes special unit, carried out this operation targeting Vivo India’s senior management. Authorities also seized Vivo India’s goods and money worth $50 million. In the operation, security forces arrested four senior executives of Vivo India, including its CFO.
In fact, the first operations for Vivo India started in July 2022. At that time, security forces raided the brand’s warehouses in India.
According to the emerging details, Vivo India is alleged to have siphoned an amount of $120 Million through shell companies. So far, Vivo has not made a statement regarding the allegations and arrests.
The Indian administration has been monitoring the activities of Chinese companies much more lately. However, the country is not on good terms with many technology companies, including social media applications. However, we have never encountered an operation like the arrest made for Vivo India. Again, although the Indian government accused Vivo India of money laundering worth $120 million, the details of how this was done have not yet emerged.
However, it is thought that the emerging issue is not related to the Chinese headquarters. In this sense, it is among the information received that Vivo is trying to learn the details in order to make a statement.
So what do you think? Will Vivo be included in the Chinese company embargo, which started with the US embargo on Huawei and was also joined by allied countries? We are waiting your comments.
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