Meng Wanzhou, a Huawei executive, has reached an agreement to return to China.


Meng Wanzhou, a Huawei executive, has reached an agreement to return to China.

Meng Wanzhou, Huawei’s Chief Financial Officer, reached an agreement with US prosecutors on Friday to delay fraud charges against her, allowing her to return to China nearly three years after being detained by Canadian authorities.

Meng appeared virtually in the Eastern District of New York U.S. District Court to sign the deferred prosecution agreement.

Meng was detained in December 2018 at the request of US authorities on accusations of violating US trade sanctions against Iran. She is accused of conspiring to commit bank fraud, conspiring to commit wire fraud, bank fraud, and wire fraud, among other things.

During the virtual arraignment on Friday, she pled not guilty to the charges.

Meng said the deferred prosecution agreement’s statement of facts are accurate, including that she lied about the telecom giant’s ties with Iranian subsidiary Skycom, as part of the accord with US prosecutors. She can’t make any statements that contradict the agreement, and she can’t commit any additional federal, state, or municipal offenses.

Acting U.S. Attorney Boeckmann stated, “By entering into the deferred prosecution agreement, Meng has accepted responsibility for her major role in perpetrating a conspiracy to defraud a multinational financial institution.” “Her admissions in the statement of facts confirm that, while serving as Huawei’s Chief Financial Officer, Meng made multiple material misrepresentations to a senior executive of a financial institution about Huawei’s business operations in Iran in order to preserve Huawei’s banking relationship with the financial institution,” according to the statement of facts.

“The financial institution’s choice to continue its banking relationship with Huawei would have been influenced by the facts about Huawei’s business in Iran, which Meng concealed. Meng’s confessions back up the government’s claims in this financial fraud case: “Meng and her fellow Huawei workers conspired to deceive global financial institutions, the United States government, and the public about Huawei’s activities in Iran.”

In exchange, the US government agreed to drop its request for Meng to be extradited to the US, allowing her to return to China. The charges will be postponed until late 2022, after which they may be dismissed.

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