Chinese tech executive lied to evade sanctions on Iran, U.S. charges [Los Angeles Times (CA)]
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Source: Los Angeles Times
Chinese tech executive lied to evade sanctions on Iran, U.S. charges Nearly a week after her arrest at a Canadian airport, the U.S. charges against Chinese tech executive Meng Wanzhou took shape Friday as a prosecutor outlined alleged efforts to conceal the ownership of a company suspected of trying to skirt U.S. sanctions on Iran. The fraud case disclosed in a court in Vancouver, Canada, has relatively narrow lines. At its heart are U.S. claims that the heir apparent to Huawei Technologies — one of China's biggest tech empires — misled banks about Huawei's suspected financial links to a Hong Kong-based company called Skycom. Meng could face up to 30 years in prison if convicted. But the fallout from Meng's arrest and possible extradition spills far beyond the charges at hand. The case has increased uncertainty in global financial markets, bringing another day of sharp losses from Asia to Wall Street before a weekend breather. There also are worries about possible Chinese retaliation
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