Daily Trends Now
Daily Trends Now


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

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

Skycom is said to be a Huawei affiliate that was doing business in Iran, though the USA government accuses Huawei of covering up this fact with lying and committing bank and wire fraud to cover its tracks.

Her arrest early last month has prompted unrest between Ottawa and Beijing.

Today, thanks to the unsealing of two indictments, we're learning that the US DOJ has officially charged Huawei with a series of federal crimes.

The top US law enforcement officials, including acting attorney general Matthew G. Whitaker and FBI Director Christopher A. Wray, held a news conference in Washington to announce the charges.

In a January 28 afternoon press conference, law enforcement officials announced a series of charges against Chinese telecommunications firm Huawei ranging from fraud to money laundering.

"Huawei also intentionally and systematically sought to steal valuable intellectual property from an American company, so it could circumvent hard-earned, time-consuming research and gain an unfair market advantage".

Acting US Attorney General Matthew Whitaker said the extradition request would be sent by a January 30 deadline.




A hearing is set for February 6.

"The criminal activity in this indictment goes back ten years and goes all the way to the top of the company", said Whitaker.

Huawei is one of China's "national champions", an US$8.4 billion firm promoted and protected by the ruling Communist Party. When news reports in 2013 found that it was, "Huawei employees, and in particular Meng, continued to lie to Huawei's banking partners about Huawei's relationship with Skycom", the department says in a brief on the case.

"Ambassador McCallum's comments were inconsistent with the position of the government of Canada. and that is what made it untenable for (him) to remain in his role", Freeland told reporters in what was the first official explanation of McCallum's dismissal.

Meng's arrest December 1 touched off a political furor marked by days of angry anti-Canada rhetoric from China's foreign ministry, culminating Sunday in the firing of John McCallum as Canada's ambassador to China. She was granted bail 10 days after her arrest.

Whitaker confirmed that the department is proceeding with its extradition efforts against Meng in accordance with the existing timetable, which requires that the formal request be registered with the Canadian courts by Wednesday.

Since Meng's arrest, multiple Canadians have been arrested or detained in China, including a former diplomat and a businessman who have been accused of spying.

follow

editors' picks

January 26, 2019
Read the Roger Stone indictment, which includes a 'Godfather: Part II' reference
The FBI also executed a search warrant at Stone's NY residence, according to Kristin Davis who shares the duplex with Stone. They also at one point took in a wheaten terrier they found injured on a roadside, he said; its leg was later amputated.

January 23, 2019
Oscars 2019: Biggest Snubs and Surprises From This Year's Nominees List
But in 2019, the Oscars arguably need Disney/Marvel's " Black Panther " more than superhero movies need the academy's validation. Stars like Gaga and Sam Sam Elliott, who earned a nod for supporting actor, have raved about working with the young director.

January 20, 2019
Here’s the Big Galaxy S10 Problem that Samsung is Keeping Secret
Accessory makers have already created screen protectors for the phones, which have been featured in several leaks so far. We'd expect the S10 to feature a Super AMOLED curved screen that displays in Quad HD+ or 4K resolution.

January 19, 2019
Solskjaer backs Mourinho to return to football’s big time
Everyone said about Tottenham being the test, I don't think that's a test in attitude, the players are going be up for that game. "I want to coach.

January 18, 2019
Greece’s Maria Sakkari wins first round at Australian Open
Fifth-seeded Kevin Anderson won his first match at Melbourne Park since 2015 when he beat Adrian Mannarino 6-3, 5-7, 6-2, 6-1. Sharapova will next play against Swede Rebecca Peterson, who beat Sorana Cirstea 6-4, 6-1. "It is so surreal", Birrell said.

January 17, 2019
How Meghan Markle Reacted to Stranger Calling Her 'A Fat Lady'
Today marked her first official as patron to the charity, but she has been visiting them privately since autumn previous year . Harry and Meghan were at the Royal Albert Hall in London, England, to watch the premiere of Cirque du Soleil's show, Totem .

January 16, 2019
Rams vs. Saints History: All-Time Head-to-Head Results
The matchup between the Saints and Rams reignites a rivalry between Rams cornerback Marcus Peters and Saints coach Sean Payton . The mayor of Atlanta has a clear preference in this weekend's NFC Championship game, and it's most definitely not the Saints.

January 15, 2019
Backed Syrian force: Islamic State in its 'final moments'
On Friday, the US-led coalition said it had started the pullout, but officials later said only equipment, not troops, were going. The troops are expected to be gone in a matter of weeks, ending three years of USA involvement in the war against ISIS in Syria.

January 15, 2019
Hazard playing as a false nine helps us defensively, insists Sarri
Sarri, though, has digged his heels in over Hudson-Odoi, and he is not impressed with Bayern Munich's continued pursuit of him. Bayern's latest bid for the player was €35million having had two previous offers rejected.

January 14, 2019
US House votes to reopen some agencies shut down in wall fight
The "easy solution is for me to call a national emergency ... but I'm not going to do it so fast", Trump said . In Miami, an entire airport terminal will be closed this weekend because of a shortage of security workers.