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Huawei's CFO Meng returns to Court; signals Canada-China standoff to ease

By Snehal Khemka Snehal Khemka      Mar 04, 2021      0 Comments      1,101 Views
Huawei's CFO Meng returns to Court; signals Canada-China standoff to ease

The Justice Department continues to pursue Meng, the eldest daughter of Huawei’s billionaire founder Ren Zhengfei for extradition, where she’s wanted on fraud charges for misleading banks into handling transactions violating U.S sanctions on Iran.

Among the banks the U.S. claims Meng to have misled the HSBC Holdings Plc. Furthermore, being charged in New York with wire and bank fraud she entered the next phase of hearings after suffering a legal setback in the U.K., soughting bank records from HSBC in an effort at proving that she had no mala-fide intentions at tricking any lenders.

A shift in administration in Washington, however might offer a ray of hope to China and Canada that the standoff may de-escalate with the Justice Department now talking about a possible resolution to the case.

But discussions on a deferred prosecution agreement had stalled, Dow Jones reported earlier this month.

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