💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Huawei to be arraigned in U.S. fraud case in New York on March 14

Published 03/01/2019, 12:35 PM
© Reuters. FILE PHOTO: The logo of Huawei Technologies is pictured in front of the German headquarters of the Chinese telecommunications giant in Duesseldorf

(Reuters) - Huawei Technologies Co Ltd and two affiliates will be arraigned on March 14 in U.S. District Court in Brooklyn, New York, on accusations the company committed bank and wire fraud and violated sanctions against Iran, according to a court filing on Friday.

In a 13-count indictment unsealed in January, the Justice Department said Huawei misled a global bank and U.S. authorities about its relationship with subsidiaries Skycom Tech and Huawei Device USA Inc, in order to conduct business in Iran.

On Thursday, Huawei Device and Huawei Device USA pleaded not guilty in a federal court in Seattle in a separate court case. The companies are charged with fraud, trade secrets conspiracy and other charges alleging that they conspired to steal T-Mobile US Inc trade secrets between 2012 and 2014. A trial date was set for March 2020.

© Reuters. FILE PHOTO: The logo of Huawei Technologies is pictured in front of the German headquarters of the Chinese telecommunications giant in Duesseldorf

The charges have added to pressure from the U.S. government on Huawei, the world’s biggest telecommunications equipment maker. Washington is trying to prevent American companies from buying Huawei routers and switches and is pressing allies to do the same.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.