Sept. 24 (Reuters) – Huawei’s chief economist Meng Wanzhou made an agreement with US prosecutors to put an end to the bank’s fraud case against her, U.S. prosecutors said on Friday, a motion that would allow her to leave Canada and alleviated the tension between the two. Donec et hendrerit eros.
Meng was arrested at Vancouver International Airport in December 2018 on a U.S. warrant, and was charged on bank and wire fraud charges for allegedly misleading HSBC ( HSBA.L ) of the telecommunications commerce giant in Iran, first told by Reuters in 2012.
Reuters first reported on Friday that the United States had reached an agreement with Meng to postpone the indictment. The agreement only applies to Meng’s crimes and against the U.S. alliance, according to two family members.
At a hearing in federal court in Brooklyn, which Meng frequented almost from Canada, Assistant U.S. Attorney David Kessler said the government will move to dismiss the charges against her if she agrees to all of her obligations under the agreement. He added that Meng would be released from the personal bond of acknowledgment, and that the United States would withdraw its policy requirement from Canada to surrender.
Meng – the daughter of Huawei founder Ren Zhengfei – said during the hearing of the charges he was not prosecuted.
In addition to solving the dispute between the United States, United States and China, the agreement could also pave the way for the dissolution of two Canadians, businessman Michael Spavor and former diplomat Michael Kovrig, who were held in China after their arrest shortly after Meng was taken into custody. In August 2018, a Chinese court sentenced Spavor to 11 years in prison for the investigation. read more
The spokesman for Huawei declined to comment.
William Taylor III, Meng’s attorney representing, said he was “very pleased” with the agreement, adding “We fully wait for the arraignment with due regard for fourteen months to be released. He will now be free to return home with his family.
Meng, who also used the English first names “Cathy” and “Sabrina”, said he was innocent and fought extradition to the United States. Vancouver is restricted to private security and is closed 24/7 from security warnings to partially pay its bail.
Articles published by Reuters in 2012 and 2013 about Huawei, Hong Kong recorded company Skycom and Meng were prominently represented in the US criminal case. Reuters reported Skycom would sell the offer for as little as 1.3 million euros, which was the computer equipment Hewlett-Packard embargoed to become the largest mobile phone operator in 2010. At least 13 pages of the document “Huawei Confidential” have been signed and carried with the Huawei logo.
Reuters also reported numerous financial and personal links between Huawei and Skycom, including including Meng who served on the board of directors between February 2008 and April 2009.
Huawei ( HWT.UL ) is set on a US commercial blacklist in 2019, which restricts sales to the company’s actions against national security and external business plans. The company has stolen restrictions, which has allowed its largest ever revenue to fall in the first half of 2021, after cracks in the US supply restrictions forced the sale of its once dominating machine business and before new developments in the area have grown up.
A criminal case against Meng and Huawei is underway on the blacklist. Huawei is charged with criminally operating, stealing commercial secrets and cheating financial institutions. He did not make him guilty.
Judicial hearings on Vancouver’s extradition case wrapped up in August, the date of the ruling on Oct. 21.
A Canadian government official in Ottawa said no comments would be made until the U.S. Senate’s actions were drafted. Kovrig’s wife declined to comment. Ambassadors Spavor could not immediately comment.
CHINA VS USA
Huawei has become a dirty word in Washington, with a knee-bust reaction from China’s hawks in Congress to make any announcement that the United States is going unresponsive, though Huawei is liable for U.S. trade restrictions.
Then-President Donald Trump told Reuters soon after his 2018 arrest that he would intervene if he could serve as a national security officer or obtain a trade aid deal. Meng’s lawyers said they pledged to fight the political battle between the two elite powers.
Senior US officials said Meng’s case is only being discussed by the Department of Justice and the case has no access to a U.S. tie with China.
In July U.S. Deputy Secretary of State Wendy Sherman traveled to China, Chinese Foreign Minister Xie Feng stated that the United States would drop extraneous charges against Meng.
U.S. officials have confessed to Beijing that Meng’s case linked to the two Canadians had been detained, but Washington maintained and did not inspect them after agreeing to inspect the chips.
Reporting by Karen Freifeld, Kenneth Li, Jonathan Stempel, David Shpardson and Michael Martina; by Chris Sanders and Edward Tobin
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