Recently, Chinese smartphone companies are facing important accusations. In this sense, Vivo CFO is facing an important accusation in India. However, according to the first information, the operation carried out in India is not directly related to the brand. Accordingly, security forces decided to arrest the management and CFO of Vivo India for alleged money laundering.
Money laundering arrest against Vivo India senior management
Vivo, one of the important players in the smartphone market, is facing a shock accusation in India. According to the first information, the incident has nothing to do with the Vivo headquarters. Accordingly, India has made an arrest warrant for Vivo India management for alleged money laundering of 120 million dollars.
India’s financial crimes special unit ED carried out this operation targeting Vivo India senior management. Authorities also seized $50 million of Vivo India’s assets and money. In the operation, security forces arrested four senior executives, including the CFO of Vivo India.
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 details that emerged, Vivo India allegedly siphoned off a sum of 120 Million Dollars through shell companies. So far, Vivo has not made a statement regarding the allegations and arrests.
The Indian government has been monitoring the activities of Chinese companies much more recently. However, the country is not on good terms with many technology companies, including social media applications. Despite this, we have not come across an operation such as the arrest for Vivo India so far. Again, although the Indian government accused Vivo India of money laundering 120 million dollars, 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 that Vivo is trying to learn the details 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 joined by allied countries? We are waiting for your comments.
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