HSBC Denies ‘Framing’ Huawei, Didn’t Prompt U.S. Legal Probe

HSBC Denies ‘Framing’ Huawei, Didn’t Prompt U.S. Legal Probe

John Cronin, a banks analyst at Goodbody, estimates that Barclays, Lloyds and NatWest Group will collectively take another £4bn hit from coronavirus over the second quarter as the lenders put extra money aside to cover for sour loans, with HSBC and Standard Chartered each putting aside another £1bn to £2bn. He has said he would consider Huawei's role in a trade deal at the final stage of negotiations, the court application says.

In a now-unavailable post on WeChat, the lender said that its actions did not trigger U.S. investigations into the world's largest supplier of telecommunications network equipment, as the scrutiny of Huawei for allegedly violating USA sanctions on Iran began well before the bank's involvement in late 2016.

The United States "has improperly tailored" the record of the case against Meng "to support its theory of criminal liability", according to the court filings.

Meng was arrested on a layover in Vancouver in December 2018. The bank said it only provided information to the U.S. Department of Justice when it was compelled to do so.

Huawei Chief Financial Officer Meng Wanzhou's lawyers accused the United States of using her as a bargaining chip in negotiations with China, and misleading the Canadian government and courts with distorted facts, local media reported Friday. During the meeting, she made a presentation about Huawei's business links in Iran and its efforts to comply with USA sanctions. The Chinese government arguably created bargaining chips of its own by arresting Canadians Michael Kovrig and Michael Spavor on espionage charges following Meng's detention in Canada.

'A bargaining chip in trade negotiations'U.S. President Donald Trump talks to reporters in the Oval Office of the White House in Washington, U.S., September 4, 2019.

Jackson County reports 22 new cases
Today, hospitalizations throughout the state were reported at 10,058 and 1,701 cases were reported hospitalized in North Texas. The county's infection rate, which measures the number of new cases over a two-week period, is at 99.7 per 100,000 population.

Meng's defence team also noted Prime Minister Justin Trudeau's comments about two Canadians detained in China in apparent retaliation for Meng's arrest.

"Within this climate, every legal decision that (Meng) makes is improperly influenced by considerations about politics".

"These proceedings have been poisoned", Meng's lawyers claimed in a 28-page legal brief outlining their arguments.

Soon after Meng's arrest, Trump told Reuters: "If I think it's good for what will be certainly the largest trade deal ever made - which is a very important thing - what's good for national security, I would certainly intervene if I thought it was necessary".

On May 27, the Canadian British Columbia Supreme Court ruled on the so-called "double criminality" in the case of Meng, holding that the US extradition request against Meng conforms to the principle of "double criminality".

Related Articles