Monday, July 15, 2024

Meng Wanzhou Case: Huawei Prosecute HSBC

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Alan Binder
Alan Binder
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The Chinese giant hopes the documents will help undermine the US case over the extradition of its CFO.

Meng Wanzhou was arrested at Vancouver Airport on December 1, 2018. The United States wants to stand trial for fraud. It was said to be related to the alleged violation of US sanctions against Iran, allegations she denied.

HSBC was allegedly misled by the CFO at a 2013 meeting. Washington alleges that Hong Kong-based Skycom has violated trade sanctions against Iran.

The question was whether Skycom was just a business partner of Huawei, or a front to cover up its activities in Iran.

The United States claims that during the meeting Ms Meng misled HSBC regarding the true nature of Huawei’s relationship with Skycom, which in turn exposed the bank to the risk of violating sanctions against Iran.

More than five years after this meeting, Mrs. Wanzhou was arrested.

According to his attorney, the US has removed key information from two tranches that showed HSBC knows the true nature of the relationship between Skycom and Huawei.

A spokesperson for HSBC said so This UK disclosure request is unfounded. HSBC is not a party to the primary criminal case in the United States or extradition proceedings in Canada.

HSBC headquarters, incorporated in Hong Kong, is located in the United Kingdom.

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