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India seizes $725 million from Xiaomi
Yahoo News ^ | 4.30.2022 | Igor Bonifacic

Posted on 04/30/2022 5:14:10 PM PDT by libh8er

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.

That money went to three foreign companies, including one under the wider Xiaomi banner. The Enforcement Directorate found Xiaomi designed the payments to benefit itself. "Such huge amounts in the name of royalties were remitted on the instructions of their Chinese parent group entities," the agency said. The Indian Enforcement Directorate began investigating the subsidiary, among a handful of other local Chinese firms, last December. It accused Xiaomi of providing “misleading information to the banks while remitting the money abroad.”

(Excerpt) Read more at news.yahoo.com ...


TOPICS: China; News/Current Events
KEYWORDS: ccp; china; india; xiaomi

1 posted on 04/30/2022 5:14:10 PM PDT by libh8er
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To: libh8er

The only thing that is going to save the US Dollar as the world’s reserve currency is the total lack of competent alternatives.


2 posted on 04/30/2022 5:15:46 PM PDT by Mr. Jeeves ([CTRL]-[GALT]-[DELETE])
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To: All

https://www.youtube.com/watch?v=6r18Ixx4vqU


3 posted on 04/30/2022 5:17:43 PM PDT by BipolarBob (Ben-Gay is the muscle cream that most former homosexuals recommend. just saying.)
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To: Mr. Jeeves

Like the current crash of both the Yen and RMB?


4 posted on 04/30/2022 5:19:32 PM PDT by datura (Eventually, the Lord and the Truth will win.)
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To: Mr. Jeeves

We suck, but you all suck way more…


5 posted on 04/30/2022 5:22:44 PM PDT by EEGator
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To: Mr. Jeeves

Banking a lot on the competency in the US dollar


6 posted on 04/30/2022 6:04:50 PM PDT by Bayard
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To: Mr. Jeeves

There’s going to be a Cryto-currency that will ride out and surpass everything else as the next depression is brought on by WWIII (or IV whatever you want to call this next war).

Bitcoin/Crypto/Datacenters/Hyperscale is growing insanely quick right now around the world.


7 posted on 04/30/2022 7:07:17 PM PDT by Roman_War_Criminal (Jesus + Something = Nothing ; Jesus + Nothing = Everything )
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