US in talks with Huawei CFO to resolve criminal charges: WSJ

Huawei Technologies Chief Financial Officer Meng Wenzhou leaves his home to attend a court hearing on November 16, 2020 in Vancouver, British Columbia.

Jennifer golthier | Reuters

The Wall Street Journal reported that people quoted Wall Streetzo as reporting that if they admit wrongdoing in the case against him, the Guangzhou, China – US government is negotiating with Huawei’s chief finance officer Meng Wenzhou, Which could send him back to China from Canada. Familiar with the matter

The WSJ said Meng’s lawyers have spoken to US Department officials in recent weeks. The report said more discussions are scheduled for this week with the aim of striking an agreement before the end of the Trump administration.

The Department of Justice was not immediately available for comment when contacted by CNBC. Huawei declined to comment on the WSJ report.

Meng was arrested in December 2018 in Vancouver, Canada. The US accused Meng and Huawei of bank and wire fraud in violation of US sanctions on Iran and was seeking his extradition.

The US alleges that Meng lied to major banks, including HSBC, with an Iranian subsidiary called SkyCom to obtain banking services. Huawei denies any wrongdoing.

The WSJ said that under discussion on the settlement, the US would agree to postpone or drop the charges against Meng if she accepts some of the charges against her. She will also be able to return to China from Canada, where she is currently on bail at her home.

The report states that Meng has opposed the proposed deal because he believes he has done nothing wrong.

Meng’s arrest, which is the daughter of Huawei founder Ren Zhengfei, marked a state of tension between the US and China and against one of the latter’s most important technology companies. The US says that Huawei represents a national security threat and has tried to convince other countries to block it from its next-generation 5G network. Washington has also imposed a number of restrictions on Huawei that have affected its ability to purchase key components such as chips.

There have been several hearings this year as part of Meng’s extradition trial, which is expected to continue for several months. A deal between Meng and the US could end it.

Read the entire Wall Street Journal report here.


Leave a Reply