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Vivo India's interim CEO among 3 execs held by ED

IndiaTimes Saturday, 23 December 2023
The Enforcement Directorate (ED) has arrested Vivo India's interim CEO, Hong Xuquan, alias Terry, in its ongoing money laundering case. Two other high-profile persons, including the CFO of Vivo India and a consultant with the company, have also been taken into custody. The agency alleges that the company has laundered over Rs 62,000 crore in illegal remittances. The accused were produced before a court and sent to ED custody for three days. ED is investigating suspicious transactions of over Rs 62,000 crore, which were remitted by the company to China.
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