• 21 mins 40 Million Jobless As Pandemic Fuels Economic Collapse
  • 1 hour What Do India's Latest Reforms Mean For Its Coal Industry?
  • 2 hours Copper Glut Continues To Grow
  • 17 hours How A Pandemic Made Americans Better Workers
  • 21 hours The Trillion Dollar Space Race Crosses Another Milestone
  • 1 day Gold Prices Fall As Stock Market Sentiment Turns Positive
  • 2 days Conspiracy Theories Set Tone For 5G Cold War
  • 2 days Working From Home Will Transform The Energy Industry
  • 2 days The Multi-Billion Dollar Race For A Vaccine
  • 2 days Can Domestic Tourism Bolster Emerging Economies?
  • 2 days Australia Considers $100 Million Investment To Kickstart Mining Industry
  • 2 days Has Re-Opening The Economy Been Successful?
  • 2 days Gold Miners Still Have Massive Upside Potential
  • 2 days The Risky World Of Oil Hedging
  • 2 days Africa Turns To Innovation Amid The Global Pandemic
  • 2 days COVID-19 Sparked A Bicycle Boom
  • 2 days Will Government COVID Intervention Cause Inflation?
  • 3 days The Bitcoin Miner That Is Paid To Do Nothing
  • 3 days Capital Gain vs. Capital Consumption
  • 3 days Tesla’s Latest Battery Innovation Ready For Use In China
How A Pandemic Made Americans Better Workers

How A Pandemic Made Americans Better Workers

Work from home statistics show…

Europe Set To Unveil Its $500 Billion 'Green Deal'

Europe Set To Unveil Its $500 Billion 'Green Deal'

Against the chaotic backdrop of…

China Targets Hong Kong As Cold War With US Heats Up

China Targets Hong Kong As Cold War With US Heats Up

China's Communist Party has set…

  1. Home
  2. News
  3. Breaking News

The U.S. Has Charged Huawei With Racketeering And Conspiracy

Huawei Conspiracy Racketeering

One would think that with the US and China now in a trade war truce, tensions over the key pawn in the global tech war, China's telecom giant Huawei would finally be easing. One would be wrong.

According to Bloomberg, as part of the ongoing crackdown on Huawei, the US has now added a RICO charge, or "racketeering conspiracy", against the Chinese telecom provider - which in the past was reserved largely for criminal mob cases -  tripling the penalties the Chinese company would face if convicted.

Huawei was already facing a series of criminal charges for allegedly violating U.S. sanctions against Iran and North Korea.

The new charge steps up U.S. pressure on Huawei. The government already had banned the company’s technology and accused Huawei of aiding Beijing in espionage. Now the company faces even more significant criminal penalties, which could be up to 3x the sought damages, if prosecutors win a conviction in federal court in Brooklyn, New York.Top of FormBottom of Form

In return, Huawei has accused the U.S. government of orchestrating a campaign to intimidate its employees and launching cyberattacks to infiltrate its internal network. The accusations have ratcheted up tensions between Huawei and the Trump administration.

Meanwhile, as Bloomberg reminds us, as the criminal case against Huawei moves forward, the prosecution of its chief financial officer, Meng Wanzhou, remains on hold. She is fighting extradition from Vancouver, Canada, after being arrested at the request of the U.S. last year. She was accused by the US of defrauding banks when she made a presentation to one of its major banking partners and lied about by lying Huawei’s business dealings in Iran, in violation of U.S. sanctions.

By Zerohedge.com

More Top Reads From Safehaven.com:

Back to homepage

Leave a comment

Leave a comment