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Banks Knew About Huawei’s Illegal Activities: Huawei CEO

Recently, Ren Zhengfei—Huawei’s CEO—stated that the banks at the center of the U.S. lawsuit against his company were completely aware of the activities and nature of the business. Ren said to CNBC that the banks “have complete knowledge of all those trade activities,” referring to the accusations of bank and wire fraud in opposition to Huawei and Meng Wanzhou, Ren’s daughter and Huawei’s CFO. This is the first instance Ren has spoken openly about the precise details in the lawsuit against Meng and Huawei.

Reportedly, Huawei and Meng are charged with wire, bank fraud and plot to commit bank and wire fraud concerning skirting American sanctions on Iran. In December, Meng was arrested in Canada and is still there dealing with extradition to the U.S. The U.S. administration claims that Meng deceived HSBC and other banks regarding Huawei’s connection with an unofficial subordinate in Iran called Skycom to facilitate banking services. Huawei and Meng robustly deny wrongdoings. The matter has increased tensions between China and Canada, but Ren asserted he stays focused on administering the company. In May, China blamed two Canadians of spying and has detained many other Canadian citizens given that Meng’s December arrest.

Recently, Huawei was in news as it is still the place where Chinese students aspire to work. The long-running US movement against Huawei might be starting to impact its business but it has not damaged the technology giant’s reputation amongst Chinese students hunting for work. Shenzhen-based Huawei was just ranked China’s most attractive employer, surpassing rivals such as Tencent and Alibaba, as per to a new poll of over 50,000 Chinese students by research company Universum. Reportedly, Huawei was voted as the top choice amongst engineering students and knocked Alibaba off the first spot amongst business students.

Wilburn Pearson
Wilburn Pearson Subscriber
Editor In Chief At Industry News Reports

A Bachelor’s degree in Finance and Marketing has not limited Wilburn from shifting his career towards content writing. As the content writing is blooming field, Wilburn is proud to have chosen this as a career and provide the Industry News Reports platform with some of the most elegant and precise articles. The influence in English and immense knowledge on the grammatical skills have helped him woo a major of the audience on the platform. Wilburn has spent the last 5 Years of his career on the Industry News Reports platform and is still going strong. He plans to write vocalistic contents so as to tingle the ears of the audiences.

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