US Judge Rules Huawei CFO's Statements Can Be Used Against Company

A US federal judge has ruled that certain statements made by Huawei Technologies' former Chief Financial Officer Meng Wanzhou can be used as evidence in the ongoing criminal case against the company. According to Reuters, the judge's decision allows prosecutors to present Meng's statements related to the events that led to her arrest in Canada in court. The ruling is seen as a significant milestone in the case involving allegations that Huawei violated US sanctions on Iran. The judge determined that Meng's statements made after her 2018 arrest in Canada were made with the company's knowledge and therefore could directly affect Huawei's liability, making them admissible. Huawei had previously argued that Meng's statements could not be used against the company. However, the judge rejected this defense, stating that the CFO's statements reflected the company's official position and should be considered in evaluating the merits of the case. This development could complicate Huawei's defense strategy in its US legal battle. The case is based on allegations that Huawei violated US sanctions by selling banking and telecommunications equipment to Iran. The company denies the charges, while Meng completed her legal process in Canada last year under an agreement with the US. The judge's latest ruling will play a key role in upcoming court hearings in the coming months. This is not investment advice.