Delhi Court orders VIVO top executives to appear over alleged illicit fund transfers

New Delhi [India], May 15 (ANI): Delhi's Patiala House Court has summoned top executives from VIVO Mobile Communication and its Indian subsidiary in connection with a money laundering case.
The court found enough evidence to proceed against the company's CEO, CFO, and VIVO Mobile India's CEO, as highlighted in a supplementary prosecution complaint.
Judge Kiran Gupta, in an order issued on May 13, called for the appearance of Shen Wei (CEO), Chen Yu Fen (CFO), and Zhiyong Chen (VIVO Mobile India CEO), acknowledging their significant role in financial misconduct.
The trio allegedly facilitated the creation of multiple business entities to move illicit funds worth Rs 20,241 crore outside India.
The Enforcement Directorate (ED) claims these executives were instrumental in forming VIVO India, managing finances, and structuring the corporate framework in a deceptive manner to bypass regulations.
They reportedly transferred large sums under the guise of goods imports.
The court has summoned them for trial on August 18, 2025, and instructed authorities to coordinate their summons via the Ministry of Home Affairs. Previous arrests in the case included several former VIVO India officials and executives from other companies.
Enforcement Directorate (ED) claims Shen Wei set up VIVO India in 2013 under VIVO China's control, while Chen Yu Fen managed finances to evade Indian regulations. Zhiyong Chen, appointed as VIVO India's director in 2015, reportedly helped conceal the company's actual ownership. (ANI)