Mahi Sall, Advisor, Fintech-Bank Partnerships, Payments and Financial Inclusivity
January 25th, 2023
Mahi Sall is the CEO & Founder of FinXpair, a Berlin-based strategic advisory boutique firm focu[...]
Huawei CFO, U.S. reach agreement to resolve bank fraud charges
Reuters | Karen Freifeld and Kenneth Li | Sep 24, 2021
Sept 24 (Reuters) - Huawei Chief Financial Officer Meng Wanzhou has reached an agreement with U.S. prosecutors to end the bank fraud case against her, according to sources familiar with the matter, in a process that should allow her to leave Canada and relieve a point of tension between economic super powers China and the United States.
The U.S. government said it will appear in Brooklyn federal court to discuss a resolution of charges against Meng, according to a Friday court filing.
Meng was arrested at Vancouver International Airport in December 2018 on a U.S. warrant, and was indicted on bank and wire fraud charges for allegedly misleading HSBC (HSBA.L) about the telecommunications equipment giant's business dealings in Iran, a story reported first by Reuters in 2012.
Reuters also was first to report on Friday that the United States had reached a deferred prosecution agreement with Meng. The agreement pertains only to Meng and U.S. charges remain against the company, according to two other people familiar with the matter.
See: Jack Ma’s Double-Whammy Marks the End of China Tech’s Golden Age
Beyond solving 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 taken in custody in 2018. In August, a Chinese court sentenced Spavor to 11 years in prison for espionage. read more
A spokeswoman for Huawei declined to comment. A spokesman for the U.S. Attorney's office in Brooklyn declined to comment. An attorney for Meng could not be immediately reached for comment.
Meng, who has also used the English first names "Cathy" and "Sabrina," has said she is innocent and has been fighting extradition to the United States from Canada. She is confined to Vancouver and monitored 24/7 by private security that she pays for as part of her bail agreement.
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