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US charges Huawei with racketeering and theft

The Justice Department charged Chinese telecommunications gi..

The Justice Department charged Chinese telecommunications giant Huawei with racketeering and stealing trade secrets from U.S. firms over two decades, the agency announced Thursday, opening another front in the Trump administrations battle against the leading maker of networking equipment.

The indictment accuses Huawei of building its empire on the backs of other companies, including six U.S. firms, by copying intellectual property and then selling it in products around the world.

In some instances, Huawei leaned on academics to steal trade secrets or provided financial rewards to employees who did its bidding, according to the indictment that names Huawei and its Chinese subsidiaries, as well as two subsidiaries based in the U.S.

The latest charges build on a case that DOJ brought last year that accused the company of financial fraud and violating U.S. trade sanctions against Iran. The companys chief financial officer, Meng Wanzhou, is fighting extradition to the U.S. from Vancouver where she was arrested at an airport last year, on related charges.

Federal prosecutorsRead More – Source

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