Huawei CFO Meng Wanzhou may reach agreement allowing her to leave Canada

Huawei Chief Financial Officer Meng Wanzhou and U.S. prosecutors have reached an agreement to resolve charges against her, in a process that should allow her to leave Canada.
Huawei CFO in CanadaMeng is expected to appear virtually in hearing in Brooklyn federal court. She was arrested at Vancouver International Airport in December 2018 on a U.S. warrant. She had been indicted on bank and wire fraud charges for allegedly misleading HSBC about Huawei’s business dealings in Iran.

The agreement pertains only to Meng and U.S. charges against the company remain, Reuters reported.

The deferred prosecution agreement would remove one of several major disputes between the world’s two biggest economies. The agreement could potentially pave the way for the release of the two Canadians held in China, who were arrested shortly after Meng was taken in custody in 2018, the report said.

Meng has said she is innocent and has been fighting extradition to the United States from Canada. Meng is confined to Vancouver and monitored 24×7 by private security that she pays for as part of her bail agreement. Meng – who also goes by her English names, Cathy and Sabrina – is the daughter of Huawei founder Ren Zhengfei.

Articles published by Reuters in 2012 and 2013 about Huawei, Skycom and Meng figured prominently in the U.S. criminal case against her. Reuters reported that Skycom had offered to sell at least 1.3 million euros worth of embargoed Hewlett-Packard computer equipment to Iran’s largest mobile-phone operator in 2010. At least 13 pages of the proposal were marked Huawei confidential and carried Huawei’s logo.

Reuters also reported numerous financial and personnel links between Huawei and Skycom, including that Meng had served on Skycom’s board of directors between February 2008 and April 2009.

Judicial hearings in her extradition case in Vancouver wrapped up in August, with the date for a ruling to be set on Oct. 21.

China arrested two Canadians – Michael Kovrig and Michael Spavor – in 2018, soon after Canadian police detained Meng, the chief financial officer of Chinese tech giant on the U.S. warrant, charging her with sanctions-related fraud. In August, a Chinese court sentenced Spavor to 11 years in prison for espionage.


More like this

Enhancing Application Performance through Efficient Networking

In today's digital age, application performance is crucial for...

Aire Networks selects Nokia mobile core to modernize network in Spain

Aire Networks has selected Nokia’s mobile core solutions to...

Ericsson posts 7% drop in sales to $5.7 bn in second-quarter

Ericsson, the leading telecom equipment maker, has revealed 7...

Mobile core network (MCN) market to drop 10% in 2024-2028

The mobile core network (MCN) market 5-year cumulative revenue...