U.S. prosecutors overlooked apparent violations of U.S. sanctions against Iran b...
) in exchange for the British bank’s cooperation with a government investigation of Huawei Technologies, lawyers for the Chinese telecoms giant said.
In return, “HSBC agreed to cooperate with the government’s efforts to depict Huawei as the mastermind of HSBC’s sanctions violations and supply witnesses to the government’s stalled investigation of Huawei,” the lawyers wrote. The new claims by Huawei relate to a five-year deferred prosecution agreement HSBC agreed to in 2012 for disregarding rules designed to prevent money laundering and processing transactions that violated sanctions.
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