Will the Huawei CFO crisis end with reaching a settlement with the US government?


Huawei Chief Financial Officer Meng Wanzhou has reached an agreement with US prosecutors to settle a bank fraud case against her, sources familiar with the matter told Reuters, in a process that would allow her to leave Canada and ease a flashpoint between the world’s two largest powers, CNBC reported.

According to a court document, the US government said representatives would go to federal court in Brooklyn to discuss a settlement of charges against Meng.

Meng was arrested at Vancouver International Airport in December 2018 on a US warrant and charged with bank and electronic fraud over allegations that it misled HSBC about the telecoms giant’s business dealings in Iran.

Reuters also reported that the United States had reached an agreement to postpone the trial with Meng.

Two other people familiar with the matter said the deal concerned Minnj alone, and US charges against the company remain.

In addition to resolving a dispute between the United States and China, the agreement could also pave the way for the release of two Canadians, businessman Michael Spavor and former diplomat Michael Kovrig, who have been held in China since their arrest shortly after Meng was detained in 2018.

In August, a Chinese court sentenced Spavor to 11 years in prison for espionage.

A Huawei spokeswoman declined to comment, and a spokesman for the US Attorney’s Office in Brooklyn declined to comment.


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