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#1
03-05-2022, 03:20 PM
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India seizes US$725 million in Xiaomi assets
An honorable member of the Coffee Shop Has Just Posted the Following:
NEW DELHI: India said on Saturday (Apr 30) it had seized US$725 million from the local bank accounts of China's Xiaomi after a probe found the smartphone maker had made illegal remittances to foreign entities by passing them off as royalty payments. India's financial crime fighting agency, the Enforcement Directorate, had been investigating the Chinese company's business practices over suspected violations of Indian foreign exchange laws. The agency said on Saturday it had seized the bank... Read more Click here to view the whole thread at www.sammyboy.com. 
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