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India seizes $725 million from Xiaomi
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India seizes $725 million from Xiaomi
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1st May 2022, 05:55
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| [M] Reviewer  Join Date: May 2010 Location: Romania
Posts: 149,135
 |  India seizes $725 million from Xiaomi India has seized assets worth approximately $725 million from Xiaomi India after the country’s anti-money laundering agency found the subsidiary had broken local foreign exchange laws. According to Reuters, India’s Enforcement Directorate announced Saturday it recently determined Xiaomi had made illegal remittances when it attempted to pass off some transfers as royalty payments. https://www.engadget.com/india-seize...9.html?src=rss |
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