US Charges China's Huawei With Bank Fraud, Stealing Trade Secrets

U.S. to announce criminal charges related to Huawei: sources

U.S. to announce criminal charges related to Huawei, sources say

USA prosecutors filed criminal charges against Huawei Technologies Co., China's largest technology company, alleging it stole trade secrets from an American rival and committed bank fraud by violating sanctions against doing business with Iran.

In early December, Meng Wanzhou, Huawei's chief financial officer, was arrested by Canadian authorities at the request of the face charges of violating sanctions against Iran. The company is also charged with violating US sanctions on Iran and conspiring to obstruct justice related to the investigation.

She was arrested in Vancouver Dec. 1 while en route from Hong Kong to Mexico.

Whitaker said the criminal offending at Huawei went "all the way to the top of the company". Charges listed in the Washington State indictment against Huawei Device Co., Ltd. and Huawei Device Co.

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While in a Vancouver courthouse to discuss her bail, a lawyer with Canada's Justice Department alleged she defrauded U.S. banks into making transactions that violated those sanctions, according to Bloomberg.

U.S. prosecutors say Huawei used a Hong Kong shell company called Skycom to sell equipment in Iran in violation of USA sanctions. Meng "personally made a presentation in August 2013 to an executive of one of Huawei's major banking partners in which she repeatedly lied about the relationship", prosecutors said in a statement announcing the charges.

The company is also charged in a separate case with stealing trade secrets from T-Mobile, according to federal prosecutors.

Huawei has always been considered a cybersecurity risk by United States authorities.

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The Justice Department views Meng's criminal case as separate from the trade issues.

The White House is preparing an executive order to declare a national emergency that would bar US companies from using telecommunications equipment made by China's Huawei and ZTE. Meng is free in Vancouver, staying at her $4.2 million mansion with Global Positioning System monitoring, after posting bail of $10 million as she fights extradition to the face criminal charges.

Since Meng's arrest, multiple Canadians have been arrested or detained in China, including a former diplomat and a businessman who have been accused of spying.

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