US Hits Huawei, CFO With Criminal Charges

The US Department of Justice unsealed a 13-count indictment against Chinese tech giant Huawei on Monday, including against two of its affiliates and its chief financial officer, the AP and Fox News report. The felony charges, which came in the form of two separate indictments—one a 10-count grand jury indictment in Washington state, the other a three-count indictment from New York prosectors—include bank fraud, conspiracy to commit wire fraud, and violating the International Emergency Economic Powers Act. Prosecutors contend that CFO Meng Wanzhou misled banks about the company's dealings in Iran, which allegedly took place despite US sanctions against the latter country.

The company is also accused of stealing trade secrets from T-Mobile, federal prosecutors say. "China must hold its citizens and Chinese companies accountable for complying with the law," Acting Attorney General Matthew Whitaker said in a statement, with FBI Director Christopher Wray adding at a Monday press conference that the company "relied on dishonest business practices that contradict the economic principles that have allowed American companies and the United States to thrive," per CNN Business. CNN notes that the new criminal charges could possibly throw a wrench into efforts by the US and China to bring the ongoing trade war between the two countries to a close. (More Huawei stories.)