Huawei CFO reaches deal with Justice Department

  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

Huawei Technologies executive Meng Wanzhou reached a deal with the Justice Department that resolves the criminal charges against her and could pave the way for her to return to China, AP reports.

Why it matters: The deal settles a yearslong dispute involving the U.S., China and Canada, where Meng, Huawei's chief financial officer, has remained since her arrest there in December 2018, per AP.

Get market news worthy of your time with Axios Markets. Subscribe for free.

State of play: The Trump administration's Justice Department in 2019 unveiled indictments against Meng and others associated with Huawei, accusing the tech giant of violating Iran trade sanctions.

  • Meng was accused of attempting to skirt sanctions in 2007 by lying about Huawei's ownership of the Iranian business Skycom.

  • The U.S. in 2019 formally asked Canada to extradite Meng, the daughter of Huawei's founder.

  • Last month, a Canadian judge reserved her decision on whether Meng should be extradited to the U.S. after a Canadian Justice Department lawyer said that there was sufficient evidence to show that Meng was dishonest, AP writes.

Between the lines: The resolution is a deferred prosecution, meaning the defendant must follow certain conditions in exchange for the Justice Department to ultimately abandon the case.

Go deeper: DOJ charges Huawei CFO with violating Iran trade sanctions

More from Axios: Sign up to get the latest market trends with Axios Markets. Subscribe for free

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting