Shulou(Shulou.com)11/24 Report--

Thanks to CTOnews.com netizens Jiayi and SNOS Snow for the clue delivery! CTOnews.com, Oct. 11 (Reuters)-Indian financial criminal institutions arrested four industry executives on Tuesday on "suspicion of money laundering", including a Chinese citizen working at vivo, according to legal documents and lawyers handling the case.

"We are firmly committed to its moral principles and are always committed to abiding by the law," vivo said in an overseas statement. We are deeply concerned about the recent arrests. We will take all available legal options.

ED, the Indian law enforcement agency, did not immediately respond to a request for comment.

Earlier in the day, two sources told Reuters that four vivo employees had been arrested, but at a court hearing before senior executives, lawyers said only one vivo employee had been arrested and was called a Chinese citizen in legal documents.

Further details of the investigation are not clear. Manish Jain, a lawyer for the Indian Law Enforcement Agency, sought to detain the arrested for 10 days, but the judge ordered only three days of detention.

The executives were arrested in an ongoing case in 2022 in which the Indian law enforcement agency raided vivo's office and charged him with money laundering, the first source said.

Vivo has repeatedly denied the allegations. The company had previously said it would work with Indian authorities to provide them with all the necessary information and was "committed to full compliance with the law".

According to CTOnews.com query, vivo is the second largest smartphone brand in India, with a market share of 17% of shipments, second only to Samsung, according to research firm Counterpoint. In 2022, the Indian Law Enforcement Agency froze 119 bank accounts related to vivo's operations in India, but the court later reversed the move.

In response to the news that vivo employees were arrested in India, vivo responded to Science and Technology Innovation Board Daily: "vivo strictly abides by local laws and regulations in India. We are closely monitoring the recent investigation and will take all feasible legal measures to deal with it."

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