Huawei CFO Meng Wanzhou released after agreeing with US in fraud case

Texas News Today

Prosecutors told federal court in Brooklyn on Friday that the chief financial officer of Chinese high-tech company Huawei was released after reaching a settlement with the US government for fraud and was allowed to return to China.

A US District Court judge has accepted a deferred prosecution agreement that runs until December 1, 2022. Under this agreement, Executive Meng Wanzhou confirmed the accuracy of the statement of fact and agreed not to commit any further crimes or risk prosecution.

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

Meng pleaded not guilty to Friday’s indictment. However, as part of the settlement, she was “responsible for her key role in implementing schemes to defraud global financial institutions,” said Nicole Beckman, federal prosecutor in the eastern New York area. said in.

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

Beckman said the admission supports Meng’s original claim. According to media reports, Hong Kong-based HSBC was involved in the case, but the banks had earlier confirmed that the DOJ was not under investigation in the case.

A Huawei spokesperson declined to comment.

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

“He has pleaded not guilty and sincerely expects that after 14 months the indictment will be dismissed with prejudice,” said attorney William W. Taylor III. “Now she can go home with her family.”

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