US charges China's Huawei with bank fraud, stealing trade secrets - News Summed Up

US charges China's Huawei with bank fraud, stealing trade secrets


In a 13-count indictment, the Justice Department said Huawei misled a global bank and US authorities about its relationship with the subsidiaries, Skycom Tech and Huawei Device USA Inc, in order to conduct business in Iran. In a separate case, the Justice Department also accused Huawei of stealing trade secrets, wire fraud and obstructing justice for allegedly stealing robotic technology from carrier T-Mobile US Inc to test smartphones' durability. Meng Wanzhou, Huawei Technologies Co Ltd's chief financial officer (CFO), is seen in this undated handout photo obtained by Reuters. T-Mobile had accused Huawei of stealing the technology, called "Tappy," which mimicked human fingers and was used to test smartphones. The charges add to pressure on Huawei, the world's biggest telecommunications equipment maker, from the US government, which is trying to prevent American companies from buying Huawei routers and switches and pressing allies to do the same.


Source: bd News24 January 28, 2019 21:56 UTC



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