• By The Financial District

Top Huawei Exec Admits Fraud, May Be Allowed To Leave For China

Meng Wanzhou, the chief financial officer of Huawei Technologies, will be allowed to return to China in exchange for admitting wrongdoing in a fraud case, Lauren McCarthy reported for the New York Times.

Photo Insert: The State Office in Washington D.C., United States (placed in the photo)

The deal to release Meng, the daughter of Huawei’s founder and one of the world’s most famous detainees, could remove an irritant in the strained relations between the US and China.

Meng and the firm were accused of a decade-long effort to steal trade secrets, obstruct a criminal investigation and evade economic sanctions on Iran. The Canadian authorities arrested Meng in December 2018 at Vancouver International Airport, at the request of the US. Her release could play into the fate of two Canadians imprisoned in China.

Reporting for Reuters, Karen Freifeld, Kenneth Li and Moira Warburton said the deal also opens US President Joe Biden up to criticism from China hawks in Washington who argue his administration is capitulating to China and one of its top companies at the center of a global technology rivalry between the two countries.

Her arrest sparked a diplomatic storm and drew Canada into the fray when China arrested two Canadians, a businessman, and a former diplomat, shortly after Meng was taken into custody. Beijing has denied publicly that the arrests are linked, the Associated Press (AP) also reported.

All the news: Business man in suit and tie smiling and reading a newspaper near the financial district.

In an exclusive on Friday, Reuters reported that the United States had reached a deferred prosecution agreement with Meng. Nicole Boeckmann, the acting US Attorney in Brooklyn, said that in entering into the agreement, "Meng has taken responsibility for her principal role in perpetrating a scheme to defraud a global financial institution."


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