Business Essentials for Professionals

US Case Against Huawei CFO Draws In Citigroup And BNP: Reports


US Case Against Huawei CFO Draws In Citigroup And BNP: Reports
Latest news reports in the United States have claim4ed based on documentary evidence that to banks – the US based Citigroup and French bank BNP Paribas, have got themselves embroiled in the criminal case filed by the US against the chief financial officer of China’s tech giant Huawei Technologies.
Following a hearing in British Columbia Supreme Court, the documents that emerged carried the names of the banks. This particular hearing was held in connection with the case of extradition of the Huawei CFO Meng Wanzhou to the US over charges of bank fraud.
In addition to these two banks, there are at least two other financial institutions which allegedly had maintained banking relations with Huawei and there are allegations that Meng and other at Huawei had misinformed the banks about the business dealings that the Chinese company had with Iran during a time when Tehran was under US sanctions.
It has been reportedly previously that the other to financial institutions allegedly involved in this case are HSBC Holdings Plc and Standard Chartered.
In the 13-count indictment that the United States has brought against Meng and Huawei, these banks have been identified as “victim” institutions. The indictment has charged the bank of being engaged in bank and wire fraud which were done in breach of the US sanctions against Iran.
Both Meng and Huawei have denied all of the allegations and charges.
There were no comments available from the four banks in question.  
Before a hearing scheduled to begin Sept. 23 in Vancouver, the materials, including video of Meng’s arrest, were allowed to be made public by the court.  
Meng is the daughter of the Huawei’s founder Ren Zhengfei and she was arrested in Canada in December last year at the behest of the US. While Meng is still detained in Canada and a case is going on about her extradition to the US, lawyers of Meng have claimed that she had been detained unlawfully. They also have claimed that her arrest had been delayed by Canadian authorities so that the Canadian border patrol gets enough time to collect evidence against Meng and for the US which they claim was a “covert criminal investigation”.
The video released recently shows Meng walking inside the Vancouver airport customs and immigration area while being questioned by border agents. The transcript of the video shows displays Meng repeatedly asking the authorities about the cause of her detainment and she was being told that she could get in touch with a lawyer but could not contact her family.
“My family members will be worried if they can’t find me,” she says.
Her lawyers say that her constitutional rights were violated because she was searched and interrogated for hours. She was granted bail after having spent more than a week in detention.
That incident ostensibly also drew the ire of the US government against Huawei which was banned by the Trump administration from doing business with American companies in May this year after the US government departments were also ordered not to do any business with the Chinese company.

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