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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