ED Extends Custody of Three Vivo-India Executives in Money Laundering Probe

ED Extends Custody of Three Vivo-India Executives in Money Laundering Probe

VoM News Desk | December 26, 2023 | 06:36 PM IST | Breaking News, Courts & Law, India | Follow on Google News

ED Extends Custody of Three Vivo-India Executives in Money Laundering Probe/PTI

ED Extends Custody of Three Vivo-India Executives in Money Laundering Probe

A Delhi court granted a two-day extension to the Enforcement Directorate (ED) for the custody of three high-ranking Vivo-India executives as part of an ongoing money laundering investigation involving the Chinese smartphone manufacturer and others.

Additional Sessions Judge Aparna Swami approved the extension of Interim CEO Hong Xuquan, also known as Terry, Chief Financial Officer Harinder Dahiya, and consultant Hemant Munjal based on the ED’s request. The decision came after their initial three-day ED custody expired.

The individuals were apprehended under the provisions outlined in the Prevention of Money Laundering Act (PMLA). Earlier in connection with this case, the ED had arrested Lava International’s MD Hari Om Rai, Chinese national Guangwen, also known as Andrew Kuang, and chartered accountants Nitin Garg and Rajan Malik. Currently, these four accused individuals are in judicial custody.

The Enforcement Directorate had previously submitted a charge-sheet against the aforementioned individuals in a special PMLA court in Delhi. Recently, the court acknowledged the charge-sheet in relation to the ongoing investigation.

VoM News Desk

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