The US Department of Justice relied on HSBC's findings to bring its current criminal case against Huawei's chief financial officer, Meng Wanzhou.
Meng Wanzhou, Executive Board Director of Chinese technology giant Huawei, attends a session of the VTB Capital Investment Forum ‘Russia Calling!’ in Moscow, Russia, Oct 2, 2014.
The bank’s findings, which have not been made public, were given in a series of presentations in 2017 to the DOJ. The department used them to help bring its current criminal case against Huawei’s chief financial officer, Meng Wanzhou. He added, “The US Department of Justice has confirmed that HSBC is not under investigation in this case.”Meng, the daughter of Huawei’s founder, was arrested in Vancouver in December. She remains free on bail while the US government tries to have her extradited to face bank and wire fraud charges. The case comes at a time of heightened trade tensions between Washington and Beijing, and amid concerns by the United States that Huawei’s equipment could be used for Chinese espionage.
The probe also found that Huawei financed Canicula’s purchase of Skycom, lending Canicula about 14 million euros in a deal the documents show didn’t close until December 2009. Canicula repaid Huawei a year later using funds from Skycom. The indictment alleges that banks in part relied on Huawei’s false statements in the Reuters stories – that it hadn’t violated sanctions on Iran and that Skycom was a local partner – to continue doing business with Huawei and Skycom.
The bank’s Huawei probe found that in August 2013, at Huawei’s request, HSBC’s then deputy head of global banking for the Asia Pacific region, Alan Thomas, met with Meng. According to the HSBC documents, Meng later provided Thomas with a PowerPoint presentation in English that stated that Huawei had sold its shares in Skycom and that she was no longer on its board. The presentation described Skycom as a Huawei “business partner” in Iran.
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