CHINA-US: US DEFERS CHARGES AND RELEASES HUAWEI CHIEF FINANCIAL OFFICER MENG WANZHOU IN EXCHANGE FOR RELEASE OF TWO IMPRISONED CANADIANS

The release of Meng Wanzhou, Huawei founder Ren Zhengfei's daughter, has raised many questions in the US and West on China's "hostage diplomacy". Meanwhile, documents released by the US Department of Justice (DoJ) reveal that Meng Wanzhou's prosecution has been deferred for four years and the charges have not been dropped. She also agreed to the DoJ's statement of facts. Acting U.S. Attorney Nicole Boeckmann for the Eastern District of New York. in a statement said "Meng has taken responsibility for her principal role in perpetrating a scheme to defraud a global financial institution.” “Her admissions in the statement of facts confirm that, while acting as the Chief Financial Officer for Huawei, Meng made multiple material misrepresentations to a senior executive of a financial institution regarding Huawei’s business operations in Iran in an effort to preserve Huawei’s banking relationship with the financial institution. The truth about Huawei’s business in Iran, which Meng concealed, would have been important to the financial institution’s decision to continue its banking relationship with Huawei. Meng’s admissions confirm the crux of the government’s allegations in the prosecution of this financial fraud — that Meng and her fellow Huawei employees engaged in a concerted effort to deceive global financial institutions, the U.S. government and the public about Huawei’s activities in Iran.” The statement added “This Deferred Prosecution Agreement will lead to the end of the ongoing extradition proceedings in Canada, which otherwise could have continued for many months, if not years".





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