US Department Of Justice Reaches An Agreement With Huawei’s Chief Financial Officer

The United States Department of Justice reached an agreement on Friday that will allow Huawei’s chief financial officer, Meng Wanzhou, to return to China almost three years after she was detained in Canada to face charges of wire and bank fraud brought by the American justice system, which last year also included conspiracy and extortion charges.

Meng is scheduled to appear virtually at the hearing in federal court in Brooklyn, New York. The board was detained at Vancouver International Airport in December 2018 by a US arrest warrant accused of misleading HSBC about Huawei’s business in Iran.

Huawei’s prosecutors and lawyers have been locked in battle since the beginning of 2019. Under the agreed framework, Meng admitted to making mistakes in exchange for prosecutors holding off and later dropping the charges.

According to the Wall Street Journal, Trump administration officials had already considered a similar agreement with Meng’s lawyers at the end of last year, but progress was stalled as Meng insisted that he had done nothing wrong and US prosecutors they demanded an acknowledgment that he had violated the law.

The current round of negotiations led by the Biden Administration has paid off due to the executive’s desire to meet again with her husband and children. Meng, 49, is the daughter of Ren Zhengfei, the founder of Huawei, the world’s largest telecommunications equipment manufacturer and a leader in 5G technologies.

In this way, one of the most important disputes between the two largest economies in the world is settled. That said, the Canadian newspaper Globe and Mail reported that the agreement did not include any deal that would allow the release of Canadians Michael Spavor and Michael Kovrig, detained in China shortly after Meng was arrested in Vancouver.

You may also like...

Leave a Reply

Your email address will not be published.