VIVO Executives in Spotlight: Mega Money Laundering Case Unfolds

A Delhi court has issued summons to senior executives of Chinese technology giant VIVO Mobile Communication, including CEO Shen Wei, CFO Chen Yu Fen, and VIVO Mobile India CEO Zhiyong Chen, over a significant Rs 20,241 crore money laundering case.

As per Additional Sessions Judge Kiran Gupta, there is abundant material to proceed against the accused, who are alleged to have orchestrated a sophisticated network of companies. This network reportedly enabled the illegal transfer of vast sums of money, portraying these funds as untainted property while channeling them back to VIVO China's entities.

The Enforcement Directorate's supplementary chargesheet highlights the executives' pivotal role in establishing VIVO India and alleges their involvement in orchestrating financial schemes to mislead Indian authorities, ultimately benefiting VIVO China. The court recognized these actions, initiating legal proceedings, and summoning them to stand trial.

(With inputs from agencies.)