US accuses China's Huawei of banking fraud and industrial espionage

US accuses China's Huawei of banking fraud and industrial espionage

Reuters

In a lawsuit filed in a Brooklyn court, the Department of Justice accuses Huawei, CFO Meng Wanzhou and two subsidiary companies of 13 counts of bank fraud and conspiracy to circumvent sanctions imposed on Iran.

In another lawsuit, the Chinese company is accused of stealing secrets from US tech company T-Mobile.

Huawei Technologies Co., the largest smartphones manufacturer in China, has been the subject of extensive scrutiny by US authorities.

Meng Wanzhou was arrested in Canada in December to serve a warrant issued by US authorities, who are now seeking her extradition.

The Department of Justice claims that Huawei used Skycom, a Hong Kong-based front company, to sell equipment to Iran in violation of sanctions imposed by the US.

Prosecutors also claim that Meng Wanzhou provided false information to US banks to make them believe there was no connection between the two companies.

As for industrial espionage, Huawei is accused of stealing information from a phone-testing robot developed by T-Mobile.

The US Department of Justice has filed a criminal complaint on Monday against Chinese technology giant Huawei for bank fraud, theft of technology from US rival T-Mobile, and violation of international sanctions.

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