The US And Huawei Reach An Agreement To Release The Company’s Chief Financial Officer

The US and Huawei reach an agreement to release the company's chief financial officer

Huawei’s CFO Meng Wanzhou, detained in Canada since 2018 and accused of bank fraud by the US, has reached an agreement with Washington to plead guilty and pay a high fine in exchange for US authorities waiving the extradition process .

The Globe and Mail newspaper said this Friday that sources close to the case have confirmed the agreement and that Meng, daughter of the company’s founder, Ren Zhengfei, will appear today virtually before a federal court in New York to seal the agreement. The same sources told the newspaper that the agreement does not include the release of Michael Spavor and Michael Kovrig, two Canadians who were detained by China immediately after Meng’s arrest on December 1, 2018 and who have been accused by Chinese authorities of espionage. .

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The arrest of Meng, Spavor and Kovrig has caused a deep diplomatic crisis between Canada and China, with mutual accusations of human rights violations and trade repercussions.

Last Saturday, The Globe and Mail noted that the US authorities had resumed talks with Huawei for the Chinese company to plead guilty to bank fraud in exchange for a deferred prosecution agreement against the Chinese telecommunications giant that would allow Meng to return to China. Meng’s extradition case is awaiting sentencing in a Vancouver (Canada) court after almost three years of trial.

Last August, defense attorneys and the Canadian Prosecutor’s Office presented their final arguments before Judge Heather Holmes, of the Supreme Court of British Columbia (Canada), against and in favor of extradition to the United States. Holmes was scheduled to make his decision known in the next few weeks.

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