The chief financial officer of Chinese tech giant Huawei Technologies Co. admitted to fraud charges in a deal that will allow her to return to China around three years after she was detained in Canada on behalf of the United States, the Justice Department said Friday. Making a remote appearance from Canada for a proceeding of a federal district court in New York, Meng Wanzhou "entered into a deferred prosecution agreement and was arraigned on charges of conspiracy to commit bank fraud and conspiracy to commit wire fraud, bank fraud and wire fraud," the department said in a press release. Under the terms of the deal, Meng, 49, confirmed the accuracy of a four-page statement of facts regarding her knowingly false statements to a financial institution, and could face prosecution on all charges if she breaches the agreement such as through further criminal conduct. For its part, the U.S. government withdrew its request that Meng be extradited from Canada. "Our prosecution team continues to prepare for trial against Huawei, and we look forward to proving our case against the company in court," Assistant Attorney General Kenneth Polite Jr. of the department's Criminal Division was quoted as saying. In December 2018, Canada arrested Meng at the request of the United States, which has accused her of helping Huawei evade U.S. sanctions on Iran. Her detention became a source of tension between Beijing and Washington. Meng is the daughter of Huawei's founder, Ren Zhengfei, who is a former engineer in the Chinese military. His company is now known as a leader in the field of next-generation 5G mobile communications. China has pushed for Meng's immediate release by Canada for nearly three years. In apparent retaliation for her arrest, the Communist-led government has detained two Canadian citizens — former diplomat Michael Kovrig and businessman Michael Spavor.
CNY - Chinese Yuan Renminbi