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COMING UP:Share Opener Variant 4



>> Escalating tensions with Beijing even further, the US Justice Department on Monday unsealed indictments against Chinese technology giant Huawei, several of its subsidiaries, and its chief financial officer, Meng Wanzhou. The DOJ accused Huawei of stealing trade secrets as well as bank and wire fraud to violate sanctions against Iran.
In a 13 count indictment, the DOJ said Huawei misled a global bank at U.S. authorities about its relationship with subsidiaries in order to conduct business in Iran.>> As early as 2007, Huawei employees allegedly began to misrepresent the companies relationship with its Iranian affiliate which is called Skycom.
Huawei employees allegedly told banking partners that Huawei had sold it's ownership interest in Skycom, but these claims were false. In reality, Huawei had sold Skycom to itself. These alleged false claims led banks to do business with the company and therefore to unknowingly violate our laws.>> In a separate charge, the Justice Department accused Huawei of stealing a robotic technology called Tappy from its competitor T-Mobile.
But Huawei said the dispute was settled in 2017.>> Thank you very much>> The charges add to the mounting U.S. pressure on Huawei, as the Trump administration tries to prevent American companies and foreign allies from buying Huawei equipment over concerns that it could be used for spying.
In December at Washington's request, Huawei's Chief Financial Officer, Meng Wanzhou, was arrested in Canada and is now fighting extradition to the U.S.. Meng who is the daughter of Huawei's founder has denied the charges related to violating US sanctions against Iran. Her father also denied that the company's products were used by the Chinese government to spy.
Meng's arrest ratcheted up tensions with China. The Chinese government later arrested two Canadians on national security grounds, a move seen by many as retaliation. According to authorities, Meng is set to appear in a Canadian court on Tuesday to discuss changes to the terms of her bail.>>