Huawei CFO, US reach agreement to resolve bank fraud charges

New York: US prosecutors are prepared to resolve criminal charges against the chief financial officer of Chinese communications giant Huawei Technologies, the Justice Department has disclosed in a letter to a federal judge in New York.

The details of the resolution of the case against Meng Wanzhou were expected to be revealed at a court hearing on Friday afternoon, local time, in Brooklyn. It could conclude a years-long legal and geopolitical tussle that involved not only the US and China, but also Canada, where Meng has remained since her arrest there in December 2018.

Meng Wanzhou, the chief financial officer of Huawei.Credit:The Canadian Press via AP

A spokesperson for Huawei declined to comment. Lawyers for Meng and the company did not return messages.

The Trump administration’s Justice Department unsealed criminal charges in 2019, just before a crucial two-day round of trade talks between the US and China, that accused Huawei of stealing trade secrets and said Meng had committed fraud by misleading banks about the company’s business dealings in Iran.

The indictment accuses Huawei of using a Hong Kong shell company called Skycom to sell equipment to Iran in violation of US sanctions.

Meng, the daughter of Huawei’s founder, fought the Justice Department’s extradition request, and her lawyers called the case against her flawed.

Last month, a Canadian judge reserved her decision on whether Meng should be extradited to the US after a Canadian Justice Department lawyer wrapped up his case by saying there’s enough evidence to show she was dishonest and deserves to stand trial in the US.

Huawei is the biggest global supplier of network gear for phone and internet companies, and some analysts say Chinese companies have flouted international rules and norms amid allegations of technology theft. The company represents China’s progress in becoming a technological power and has been a subject of US security and law enforcement concerns.

It has repeatedly denied the US government’s allegations and the security concerns about its products.


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