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China's Vivo confirms it's the target of Indian money-laundering investigation

By Freny Patel ( July 7, 2022, 03:09 GMT | Insight) -- Chinese smartphone manufacturer Vivo has been raided across over 40 locations in India as part of a money-laundering investigation. According to media reports, the Tuesday raids by the Directorate of Enforcement were carried out under the provisions of the Prevention of Money Laundering Act. Vivo, which said it’s cooperating with investigators, is the second Chinese mobile manufacturer to be investigated by the agency this year, with Xiaomi also facing a probe over outward remittances on the instruction of its Chinese parent company.Chinese smartphone manufacturer Vivo has been raided across over 40 locations in India as part of a money-laundering investigation....

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