The U.S. Eastern District office alleges Meng, the company and a Hong Kong-based subsidiary called Skycom Technologies committed wire fraud, obstructed justice, conspired to launder money and violated the International Emergency Economic Powers Act (IEEPA) by doing business with sanctioned Iran.
Huawei and Meng allegedly committed fraud by lying to banks, misrepresenting their relationship with Skycom and whether they were improperly transferring U.S. technology assets and money between Iran and the company. It is illegal for banks to knowingly allow financial transfers that involve countries sanctioned under IEEPA.
“Had the [banks] known about Huawei’s repeated violations of the [Iran sanctions] they would have reevaluated their banking relationshipos with Huawei, including the provision of U.S.-dollar and Euro clearing service to Huawei,” the indictment reads.
from Just News Viral http://bit.ly/2CNFNa8
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