Economy

Reuters exclusively reports U.S. probe of China's Huawei includes bank fraud accusations

Reuters exclusively reports U.S. probe of China's Huawei includes bank fraud accusations

Reuters exclusively reported that Chinese telecoms giant Huawei’s chief financial officer was arrested in Canada as part of a U.S. investigation into an alleged scheme to use the global banking system to evade U.S. sanctions against Iran. The United States has been looking into whether Huawei Technologies Ltd violated U.S. sanctions against Iran since at least 2016, more recently focusing on the company’s use of HSBC Holdings to make illegal transactions involving Iran. Following the news, HSBC’s U.S.-listed shares dropped as much as 6 percent as trading volume rose.


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