US Huawei Probe Reveals Bank Fraud Accusations

Sources revealed this week that Huawei’s chief financial officer Meng Wanzhou had been arrested on suspicions of bank fraud with the intention of evading US sanctions against Iran.


US investigators also suspect that the Chinese telecommunications giant may have used HSBC Holdings Plc in its illegal transactions with Iran.Huawei is being accused of misleading HSBC, which constitutes of bank fraud.


It was also noted that Meng previously served on the board of Hong Kong-based Skycom Tech Co Ltd. The company, which attempted to sell embargoed Hewlett-Packard computer equipment to Iran’s largest mobile-phone operator, had much closer ties to Huawei than previously known.



Source: Reuters


Post a Comment