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Four individuals, including Chinese national and Lava MD,held in Vivo case

The Enforcement Directorate (ED) made arrests in a money laundering case linked to phone-maker Vivo, detaining four individuals, including a Chinese national and the Managing Director of Lava International. Among those arrested were Guangwen Kyang, also known as Andrew Kuang, an employee of Vivo hailing from China, Rajan Malik, chartered accountant Nitin Garg, and Hari Om Rai, the founder of Lava International.

Vivo responded to these arrests with concern, asserting their commitment to ethical principles and legal compliance. They pledged to explore all available legal avenues to address the situation. Vivo Mobiles India, established in 2014 as a subsidiary of Hong Kong-based Multi Accord Ltd, had previously come under scrutiny when the ED conducted raids in July of the previous year. These operations aimed to expose a significant money laundering scheme involving Chinese nationals and various Indian companies.

The ED’s investigation revealed that Vivo had illicitly transferred Rs 62,476 crore, equivalent to nearly half of its total turnover, out of India, primarily to China. These transfers were allegedly carried out to falsely represent substantial losses within Indian-based companies, thereby evading tax payments in India.

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