US Justice Department accuses Huawei of fraud and stealing trade secrets

US Justice Department accuses Huawei of fraud and stealing trade secrets

The US Justice Department has introduced a 13-count indictment in opposition to Huawei, its CFO Meng Wanzhou, in addition to a number of of Huawei’s subsidiaries.

It is accusing the corporate and Meng Wanzhou of stealing trade secrets and obstructing justice and financial institution fraud by evading financial sanctions on Iran.

Specifically, prosecutors declare that Huawei misrepresented its relationship with an Iranian affiliate, utilizing this relationship to proceed work with banks and officers regardless of sanctions on Iran by the US.

Prosecutors additionally say Huawei stole mental property from T-Mobile. It violated confidentiality agreements with T-Mobile by stealing info on a robotic used to check smartphones.

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Ms. Meng was arrested in Vancouver, Canada in early December final yr and is now out on bail. She is combating extradition to the US. Her subsequent courtroom listening to is about for six February.

President Trump had earlier advised that he might grant Ms. Meng freedom in change for a trade cope with China, but it surely stays to be seen if China would settle for such a deal. Furthermore, doing so with anger legislation enforcement officers within the US.

One can solely think about how this may all pan out.

Source: Bloomberg


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