. (*_ Prosecutors in the Eastern District of New York said Friday they would drop wire and bank fraud charges against Huawei Technologies chief financial officer. They also removed an extradition request to hold her, if she agrees to a deferred prosecution arrangement.
Meng Wanzhou, the daughter of Huawei founder Ren Zhengfei, admitted that she attempted to defraud an American financial institution by misrepresenting her company’s ties to Iran in an effort to avoid U.S. sanctions against Iran.
In Meng’s statement of facts, she stated that Huawei was in “normal business cooperation” with Skycom, an Iranian-based company. However, Huawei actually controlled Skycom, and Skycom employees were Huawei. The nature of Huawei’s relationship to Skycom was concealed by her, and Skycom’s violations of U.S. sanctions.