09 Jan 2019
The U.S. case against the chief financial officer of China’s Huawei Technologies, who was arrested in Canada last month, centres on the company’s suspected ties to two obscure companies.
One is a telecom equipment seller that operated in Tehran; the other is that firm’s owner, a holding company registered in Mauritius.
U.S. authorities allege CFO Meng Wanzhou deceived international banks into clearing transactions with Iran by claiming the two companies were independent of Huawei, when in fact Huawei controlled them. Huawei has maintained the two are independent: equipment seller Skycom Tech Co Ltd and shell company Canicula Holdings Ltd.
But corporate filings and other documents found by Reuters in Iran and Syria show that Huawei, the world’s largest supplier of telecommunications network equipment, is more closely linked to both firms than previously known.
– By Steve Stecklow, Babak Dehghanpisheh, James Pomfret, Reuters, 8 January 2018.
Link to Reuters.
Advance your CPD minutes for reading this article, by signing up and using the CPD WalletFREE CPD Wallet