ED carried out searches at 48 locations for money laundering charges on Vivo Mobiles India Pvt.
The Directorate of Enforcement (ED) confirmed on July 7, 2022, on Twitter that they have carried out so far 48 searches on different locations across the country for Vivo Mobiles. According to sources, ED has started investigating the Chinese mobile manufacturer for a money laundering case. Today they tweeted an update on their search for Vivo Mobiles saying, “ED has carried out searches at 48 locations across the country belonging to VIVO Mobiles India Pvt. Ltd. and its 23 associated companies, and seized balance of Rs. 465 Crore lying in 119 bank accounts, including FDs of 66 Crore of Vivo India, 2kg gold bars, and Rs. 73 Lakh cash.”
ED has carried out searches at 48 locations across the country belonging to VIVO Mobiles India Pvt. Ltd. and its 23 associated companies, and seized balance of Rs. 465 Crore lying in 119 bank accounts, including FDs of 66 Crore of Vivo India, 2kg gold bars, and Rs. 73 Lakh cash.
— ED (@dir_ed) July 7, 2022
The Enforcement Directorate of India has conducted searches for Vivo Mobiles across North India under the provisions of the Prevention of Money Laundering Act (PMLA). According to the PMLA established on January 17, 2003, the prevention of money laundering and confiscation of property derived from the same is a matter of concern to the government.
Reports say that the Chinese mobile company Vivo was previously under investigation by the Central Bureau of Investigation and later it was passed on to the ED for money laundering allegations.
A Vivo spokesperson reportedly said in response to the investigations, “Vivo is cooperating with the authorities to provide them with all required information. As a responsible cooperate, we are committed to be fully compliant with laws.”
According to the agency, the Chinese company distributor based in Jammu Kashmir has been under surveillance as the government found that two Chinese shareholders of the company have distributed forged documents with false Indian addresses. This case was initially taken by the department of economics of the Delhi Police.
