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Huawei CFO Meng Wanzhou released after agreeing with U.S. in fraud case

Huawei Chief Financial Officer Meng Wanzhou arrived at the British Columbia Supreme Court with security details for a surrender afternoon session in Vancouver, Canada, on August 4, 2021. ..

Don McKinnon | AFP | Getty Images

The chief financial officer of Chinese high-tech company Huawei was released after reaching an agreement with the U.S. government for fraud and was allowed to return to China, prosecutors said in federal court in Brooklyn on Friday.

A judge in the US District Court has accepted a postponed prosecution agreement that lasts until December 1, 2022. Under this agreement, executive Meng Wanzhou confirmed the accuracy of the fact statement and agreed not to commit any other crime or risk prosecution.

Huawei’s founder’s daughter, Meng, was arrested in Canada in December 2018. The United States sought to expel her on charges of bank fraud and wire fraud, alleging that she had been misunderstood by financial institutions for violating US sanctions against Iran. The United States said on Friday that it would withdraw its request for surrender.

Meng pleaded not guilty to Friday’s indictment. However, as part of the agreement, she was “responsible for her key role in implementing plans to deceive global financial institutions,” said Nicole Beckman, acting federal prosecutor in the eastern New York region. Said in.

According to Boeckmann, Meng admitted that Huawei’s CFO made “several serious misrepresentations” of its business in Iran in a conversation with senior financial institution executives. The government claimed she did this to continue the business relationship between Huawei and the company.

Beckman said the admission supports Meng’s core claim. Hong Kong-based HSBC was associated with the case, according to media reports, but banks had previously confirmed that the DOJ was not under investigation in the case.

A Huawei spokeswoman declined to comment.

Meng’s lawyer said he was “satisfied” with the deal.

“She has not pleaded guilty and fully hopes that the indictment will be dismissed prejudicedly after 14 months,” said lawyer William W. Taylor III. “Now she can go home with her family.”

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See: Huawei CEO told CNBC that the company can withstand pressure from the United States

Huawei CFO Meng Wanzhou released after agreeing with U.S. in fraud case

Source link Huawei CFO Meng Wanzhou released after agreeing with U.S. in fraud case

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