Huawei had a day in court in the US. Company representatives plead "NOT GUILTY" your honor. The copany responded to a 13 count indictment by the DOJ for bank and wird fraud; violating sanctions against Iran; and obstructing justice. Huawei is the world's largest maker of telecom equipment. They face potential fines in the billions of dollars which would essentially put the company into bankruptcy. CFO Meng Zouchou is being held in Canada waiting for extradition to the US. She is fighting the order in Canadian courts while suing the US government in US courts.
Huawei is charged with deceiving HSBC with a phony company called Skycom. The US maintains it was an unofficial subsidiary used to conceal Huawei's business with Iran.
China's other big electronics manufacturer ZTE was put on notice by the US and then saved from financial collapse after President trump allowed a lifeline of funding to be extended and also to allow some US companies to continue to do business with the company.
Ahhhh, China. How about the South China Sea this week? Any more islands taken over? Or should we say any more rocks built on this week? Any more Uighurs taken to summer camp for "training".
No comments:
Post a Comment