US charges China's Huawei, top executive with fraud

The US Justice Department has filed a host of criminal charges against Chinese telecoms giant Huawei and its Chief Financial Officer Meng Wanzhou.

The charges against the world's second largest smartphone maker include accusations of bank fraud, obstruction of justice and theft of technology, the BBC reported.

The indictment alleges Huawei misled the US and a global bank about its relationship with two subsidiaries, Huawei Device USA and Skycom Tech, to conduct business with Iran.

A second case alleges Huawei stole technology from T Mobile used to test smartphone durability, as well as obstructing justice and committing wire fraud.

The case could ratchet up tensions between China and the US, and impact the firm's global expansion efforts.

Both Meng and Huawei deny the allegations, the BBC said.

Meng was arrested in Canada in December at the request of the US for allegedly evading sanctions on Iran.

"For years, Chinese firms have broken our export laws and undermined sanctions, often using US financial systems to facilitate their illegal activities. This will end," said US Commerce Secretary Wilbur Ross.

The Donald Trump's administration had reinstated all sanctions on Iran removed under a 2015 nuclear deal and also imposed even stricter measures, hitting oil exports, shipping and banks.

--IANS

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