VIVO under ED Scanner
Tuesday saw at least 44 locations across the nation raided by the Enforcement Directorate (ED) as part of a money-laundering probe into Chinese smartphone maker Vivo and associated businesses, according to officials.
Sections of the Prevention of Money Laundering Act (PMLA) were used to conduct the searches at locations across many states, including Delhi, Uttar Pradesh, Meghalaya, and Maharashtra.
Vivo India is assisting law enforcement, according to a spokeswoman. “Vivo is working with the authorities to give them all the information they need. We are committed to following the law to the letter as a responsible corporate entity “added the spokeswoman. According to the officials, the government was conducting searches at 44 locations connected to Vivo and affiliated businesses.
Zhengshen Ou and Zhang Jie, the directors of Vivo India, flee the country as the ED escalates the money laundering probe.
