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September 27, 2021 05:27 pm

US Agrees Not To Pursue Fraud Charges Against Huawei CFO

Huawei CFO Meng Wanzhou would appear in a Brooklyn federal courtroom today via streaming video and enter a plea regarding US charges against her. From a report: Canadian authorities arrested the Chinese executive in December 2018 on suspicion of violating US sanctions, and she has remained there on house arrest ever since, fighting US attempts at extradition. Hearings in her extradition case ended in August, with the ruling scheduled for October 21st. Meng was indicted on fraud charges claiming the Chinese technology and telecommunications company misrepresented its relationship with an Iranian affiliate, along with accusations it stole intellectual property from T-Mobile. The 13-count indictment named Meng, Huawei, and two of its subsidiaries -- Huawei USA and Skycom. On Friday afternoon, Meng pleaded not guilty. Prosecutors submitted a statement of facts asserting that in 2013 she told financial institutions the Iranian company Skycom was a partner of Huawei while knowing that Skycom was owned and controlled by a Huawei subsidiary to act as its agent in the region. As part of the deal in making this admission, the prosecution says "Meng has agreed to the accuracy of a four-page statement of facts that details the knowingly false statements she made to Financial Institution 1."

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