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US in talks with Huawei CFO over criminal settlement deal: WSJ



Huawei Technologies Chief Financial Officer Meng Wangzhou leaves his home to attend a court hearing in Vancouver, British Columbia, Canada, on November 16, 2020.

Jennifer Gaultier Reuters

GUANGZHOU, China – The US government is in talks with Huawei CFO Meng Wangzhou over a deal that could return it to China from Canada if it admits wrongdoing in the case against it, the Wall Street Journal reported, citing people. familiar with the issue.

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7;s lawyers have been talking to US Department of Justice officials in recent weeks about a so-called deferred prosecution agreement, the WSJ said. More discussions are scheduled for this week to reach a deal before the end of the Trump administration, the report added.

The Department of Justice was not immediately available for comment when it contacted CNBC. Huawei declined to comment on the WSJ report.

Meng was arrested in Vancouver, Canada in December 2018. The United States has accused Meng and Huawei of bank and bank fraud in violation of US sanctions against Iran and is seeking her extradition.

The United States claims that Meng lied to major banks, including HSBC, about Huawei’s connection to a subsidiary in Iran called Skycom to obtain banking services. Huawei denies any wrongdoing.

Under the agreement now being discussed, the United States will agree to defer or drop the charges against Me if it admits some of the charges against it, the WSJ said. She will also be able to return to China from Canada, where she is currently under warranty at her home.

So far, Mann has opposed the proposed deal because he believes it has done nothing wrong, the report added.

The arrest of Meng, the daughter of Huawei founder Ren Zhengfei, has also raised tensions between the United States and China against one of the latter’s most important technology companies. The United States says Huawei poses a threat to national security and has tried to persuade other countries to block the company’s next-generation 5G mobile networks. Washington also imposed a number of sanctions on Huawei, which affected its ability to procure key components such as chips.

A number of hearings have already taken place this year as part of Mann’s extradition process, which is expected to continue for several more months. The deal between Me and the United States could end it.

Read the full Wall Street Journal report here.


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