US Opens Criminal Trial Against Huawei, Prosecutors Call It a Criminal Organization That Stole Technology

RegulationGeopolitics
โดย Money & Banking·USCN·Read original
Summary · why it matters

The criminal trial of Huawei, the Chinese telecommunications giant, opened in a federal court in New York, with US prosecutors accusing the company of being a criminal organization that stole technology from American companies to gain a competitive advantage and expand its telecommunications empire around the world. Taylor Stout, a lawyer from the US Department of Justice, said in her opening statement that over a period of about 20 years, Huawei used theft, lies, and concealment to gain an edge over American companies and exploit the US financial system. Prosecutors said Huawei conspired to steal trade secrets from five US companies, including operating system source code for internet routers from Cisco Systems and the robotic arm that T-Mobile used to test mobile phones. Huawei's lawyers rejected the allegations, saying the case is about competition, not conspiracy; innovation, not theft; and ordinary business conduct, not crime. They insisted that the incidents involving Cisco and T-Mobile were the actions of individual employees, not company policy. The case dates back to 2018, when Huawei and its chief financial officer were charged with bank fraud and violating sanctions over allegations that they provided false information about business operations in Iran. The charges later widened to include operating as a criminal organization. One key event was the detention of Meng Wanzhou in Vancouver, Canada, in 2018. She fought extradition for nearly three years before the charges were dropped in 2022 under a deferred prosecution agreement. This trial is expected to take about three months.

Impact on stocks 2

Cybersecurity & Digital Trust▲ · 1 stocks
Cisco Systems Inc
CSCO
± MixedRegulationrelevance

Cisco is named as one of five US companies whose router source code Huawei allegedly stole, but the article reports no new development affecting Cisco itself.

Cloud & Digital Infrastructure▲ · 1 stocks
T-Mobile US Inc
TMUS
± MixedRegulationrelevance

T-Mobile is cited as the victim of alleged theft of its phone-testing robotic arm, but no new impact on T-Mobile is described.

Off-coverage companies 1

HuaweiPrivate▼ Negative
Regulationrelevance

Huawei's criminal trial opened in New York with prosecutors alleging it is a criminal organization that stole technology and violated sanctions.

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