Delhi Court Summons VIVO Executives in Major Money Laundering Probe

In a significant development, Delhi's Patiala House Court has issued summons to key executives of VIVO Mobile Communications, implicating them in a major money laundering case. The court's decision stems from substantial evidence presented in a supplementary prosecution complaint, targeting CEO Shen Wei, CFO Chen Yu Fen, and Zhiyong Chen, VIVO Mobile India's CEO.

The accusations against these top officials include facilitating the diversion of illicit funds amounting to Rs 20,241 crore outside India by establishing multiple business entities. The court order highlights Judge Kiran Gupta's directive for these executives to appear in court, underscoring their critical involvement in alleged financial misconduct.

According to the Enforcement Directorate (ED), the trio played pivotal roles in forming VIVO India and structuring its corporate framework to effectively circumvent Indian financial regulations, while transferring substantial amounts disguised as goods imports. The court has set the trial for August 18, 2025, with the summons facilitated via the Ministry of Home Affairs. Previous arrests have involved former VIVO India officials and other company executives.

(With inputs from agencies.)