US drops bank fraud charges against Huawei CFO

meng wanzhouchief financial officer (CFO) of Huawei, recently saw bank fraud charges filed and dropped by the courts of the United States of America. The Huawei heiress, daughter of its founder, Ren Zhengfei, had been detained in Canada since 2018, thus ending four years of deprivation for this high-ranking figure in Chinese technology.

According to the agency ReutersRen Zhengfei and the executive signed an agreement with US prosecutors to stop all criminal complaints filed in 2018. Meng is now free after removal petition filed by US prosecutors with competent judicial bodies .

The arrest of Meng Wanzhou in 2018 intensified tensions between China and the US.

The agreement between the parties was signed on December 1, as indicated by Reuters🇧🇷 Citing a postal communication sent by Carolyn Pokorny, United States Attorney in Brooklyn, dated December 1 and addressed to the Honorable Judge Ann Donnelly requesting that the complaints previously filed against Meng Wanzhou be withdrawn.

This result was already considered expected, but it ended one of the most tense phases of Sino-American relations. While both superpowers continue to compete for the top spot in the global technological and economic market, this dispute is now coming to an end.

The defamation originated from accusations of bank fraud, as well as other crimes, in order to deceive the banking institution HSBC Holdings Plc. All this, alleged the prosecution, in order to mask Huawei’s business with Iran, a regime subject to economic sanctions imposed by the United States of America.

Huawei CFO admits making false statements about Iran

integral part of agreement between the partiesthat would lead to the withdrawal of all charges, was the guilty plea in part of the above statements gives executive🇧🇷

More specifically, Meng Wanzhou, admitted to making false statements provided to one of the executives of the bank in question about the negotiations between Huawei and Iran in 2013.

These statements were provided in a statement of facts in which Huawei’s CFO agreed to voluntarily state the truth, without inconsistencies in their testimony.

Daughter of Huawei founder spent nearly 3 years under house arrest in Canada

Complaints and accusations against Huawei included various tax offenses🇧🇷 Indeed, from bank fraud, theft of intellectual property to American companies, as well as objections to justice. All of that was refuted by Meng Wanzhou.

However, given the alleged activities of Huawei’s CFO, relations between the US and China would reach a breaking point. As a result, the US Department of Commerce would place Huawei on its blacklist of prohibited entities.

Consequently, the North American FCC would also prohibit the sale of new network equipment by Huawei, applying the same to its telecommunications equipment. For the Chinese manufacturer it was the beginning of its setback outside of China.

Finally, for the time being, Meng’s legal team has chosen not to comment, and the company is following suit so far. In sum, not be approved by the US🇧🇷 we have a fee waiver🇧🇷