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Huawei CFO leaves Canada after U.S. deal on fraud charges

Christian Fernsby |
Huawei Chief Financial Officer Meng Wanzhou flew home to China on Friday after reaching an agreement with U.S. prosecutors to end the bank fraud case against her.

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Within hours of the news of the deal, two Canadians who were arrested shortly after Meng was taken into custody in December 2018 were released from Chinese jails and were on their way back to Canada. Beijing had denied that their arrests were linked.

The years long extradition drama has been a central source of discord in increasingly rocky ties between Beijing and Washington, with Chinese officials signaling that the case needed to be dropped to help end a diplomatic stalemate.

The deal also opens U.S. President Joe Biden to criticism from China hawks in Washington who argue his administration is capitulating to China and one of its top companies at the center of a global technology rivalry between the two countries.

Meng was arrested at Vancouver International Airport on a U.S. warrant, and indicted on bank and wire fraud charges for allegedly misleading HSBC (HSBA.L) in 2013 about the telecommunications equipment giant's business dealings in Iran.

The agreement pertains only to Meng, and the U.S. Justice Department said it is preparing for trial against Huawei and looks forward to proving its case in court.


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