New Delhi [India], May 15 (ANI): The Patiala House Court in Delhi has summoned top executives from VIVO Mobile Communication and its Indian subsidiary in a money laundering case. The court found sufficient evidence to proceed against the company’s CEO Shen Wei, CFO Chen Yu Fen, and VIVO Mobile India CEO Zhiyong Chen, as outlined in a supplementary prosecution complaint. Judge Kiran Gupta, in an order issued on May 13, called for their appearance, citing their significant involvement in financial misconduct.
The executives are accused of facilitating the creation of multiple business entities to transfer illicit funds amounting to Rs 20,241 crore outside India. The Enforcement Directorate (ED) claims these executives played a key role in forming VIVO India, handling finances, and structuring the corporate setup to evade regulations. The funds were allegedly moved under the pretext of importing goods.
The court has scheduled their trial for August 18, 2025, and instructed the authorities to issue summons through the Ministry of Home Affairs. Earlier, several former VIVO India officials and executives from associated companies were arrested in the case.
According to the ED, Shen Wei established VIVO India in 2013 under the control of VIVO China, while Chen Yu Fen managed financial operations to bypass Indian regulations. In 2015, Zhiyong Chen became VIVO India’s director and reportedly aided in concealing the company’s actual ownership. (ANI)
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