Huawei says U.S. investigation overlooked HSBC misconduct

Huawei, U.S., Investigation, Iran, Telecom, Hsbc

Huawei says U.S. investigation overlooked HSBC misconduct @GlobeBusiness

Huawei, U.S.

2/18/2020

Huawei says U.S. investigation overlooked HSBC misconduct GlobeBusiness

In an indictment unsealed last year, Huawei was charged by the United States with bank fraud and violating sanctions against Iran

. Federal prosecutors added more charges to the case this month. The indictment accuses Huawei and its chief financial officer, Meng Wanzhou, of conspiring to defraud HSBC and other banks by misrepresenting Huawei’s relationship with Skycom Tech Co Ltd, a suspected front company that operated in Iran. The new claims by Huawei relate to a five-year deferred prosecution agreement HSBC agreed to in 2012 for disregarding rules designed to prevent money laundering and processing transactions that violated sanctions. Huawei’s lawyers say that, after HSBC obtained the deferred prosecution agreement, the bank continued to process Iran transactions through its New York branch and concealed the conduct from a court-appointed monitor. It also failed as late as 2017 to implement compliance measures it had promised in order to secure the agreement. “The Justice Department determined that HSBC met all of its obligations, including its sanctions obligations, under its 2012 Deferred Prosecution Agreement,” the bank said in a statement. Huawei has pleaded not guilty. Meng, the daughter of Huawei’s founder, was arrested in Canada on a U.S. warrant in connection with the case. She has said she is innocent and is fighting extradition. Reuters exclusively reported last February that HSBC conducted an investigation into Huawei’s connections with Skycom that helped lead to the charges against the Chinese company. Story continues below advertisement Huawei is seeking documents from the HSBC investigation of the company and reports from the monitor, which it says “appear certain” to contradict the allegations in the indictment. A spokesman for federal prosecutors in Brooklyn declined to comment. Related topics Read more: The Globe and Mail

HSBC net profit falls 53 per cent, bank to sell assets in overhaulEurope's biggest bank, HSBC , has reported that its net profit fell 53 per cent in 2019 to US$6 billion. They aren't getting that money laundering money any more

HSBC to shed 35,000 jobs over 3 years, CEO saysThe bank said it would shrink its sales and trading and equity research in Europe and shift resources to Asia. time to do like Trump and tax corporations more that leave our country and set up shop else where. Canada needs to stop relying on China for everything, America for protection and the Middle East for oil. MakeCanadaGreatAgain TrudeauMustGo Oh, 'only' $6 billion in profits, better layoff the peons so the bosses can have more money!

‘Lack of privacy’: Nancy Pelosi warns NATO allies against using HuaweiThe White House has also raised national security concerns about Huawei , and is aggressively lobbying Western allies to bar the company from their wireless, high-speed networks. [laughs in REDACTED] Does Nancy know what a Huawei is? We'd rather make money working with a country that puts people in concentration camps. Sorry nancy

U.S. mulls cutting Huawei off from global chip suppliers U.S. mulls cutting Huawei off from global chip suppliers GlobeBusiness

Letters to the editor: Feb. 17: ‘Canada finds itself between a rock and a hard place.’ Readers react to U.S. threats over Huawei, growing pipeline protests, plus other letters to the editorFeb. 17: ‘Canada finds itself between a rock and a hard place.’ Readers react to U.S. threats over Huawei , growing pipeline protests, plus other letters to the editor GlobeDebate GlobeDebate The Globe's 'settler' letter writers want to repatriate Canada to a indigenous mob thugocracy

HSBC net profit falls 53 per cent, bank to sell assets in overhaulEurope's biggest bank, HSBC , has reported that its net profit fell 53 per cent in 2019 to US$6 billion. They aren't getting that money laundering money any more



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