US files fraud charges against Huawei & CFO Wanzhou

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US files fraud charges against Huawei & CFO Wanzhou

Jan 29, 2019 11:32 IST

The Justice Department has formally filed criminal charges against Chinese tech giant Huawei, it’s chief financial officer Meng Wanzhou ( one- zhoo) and several subsidiaries. The department alleges Huawei used extreme efforts to steal trade secrets, misled banks about its business and violated U.S. sanctions.The charges come just ahead of a crucial round of trade talks between the United States and China and trade analysts say this could dim prospects for a breakthrough.Huawei is the world’s biggest supplier of network gear used by phone and internet companies and has long been perceived as a front for spying by the Chinese military or security services.

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