{"id":108358,"date":"2021-03-02T04:44:23","date_gmt":"2021-03-02T04:44:23","guid":{"rendered":"https:\/\/fin2me.com\/?p=108358"},"modified":"2021-03-02T04:44:23","modified_gmt":"2021-03-02T04:44:23","slug":"huawei-executives-lawyer-disputes-what-hsbc-knew-as-us-extradition-case-resumes","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/huawei-executives-lawyer-disputes-what-hsbc-knew-as-us-extradition-case-resumes\/","title":{"rendered":"Huawei executive's lawyer disputes what HSBC knew as US extradition case resumes"},"content":{"rendered":"
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VANCOUVER - Huawei Chief Financial Officer Meng Wanzhou’s U.S. extradition hearing resumed in a Canadian court on Monday with defence countering prosecutors’ claims that Meng misled HSBC about the Chinese telecom company’s relationship with its affiliate while doing business in Iran.<\/p>\n
As five days of hearings in the British Columbia Supreme Court started, the defence drilled into the alleged sanction violations that led to Meng’s arrest. The daughter of Huawei founder Ren Zhengfei is accused by the United States of misleading HSBC about her company’s business arrangements in Iran, causing the bank to break U.S. sanctions.<\/p>\n
Meng, 49, was arrested at Vancouver’s airport in December 2018 on a U.S. warrant and has been living under house arrest while her case makes its way through Canada’s courts.<\/p>\n
HUAWEI 2020 REVENUE TICKS UP DESPITE US SANCTIONS, CHAIRMAN SAYS<\/strong><\/p>\n Defence lawyer Frank Addario kicked off a new phase of hearings with an assertion that HSBC’s global client relationship manager, tasked with overseeing its dealings with Huawei Technologies, knew that Huawei controlled Skycom Tech Co Ltd’s accounts.<\/p>\n U.S. prosecutors allege Skycom operated as a Huawei affiliate in Iran and that Meng misrepresented this relationship. Meng allegedly made statements suggesting Skycom was sold to an arms-length third party, according to the prosecutors, when it was in fact sold to a parent company controlled by Huawei.<\/p>\n