A 2019 US indictment accuses Meng and Huawei, the world’s largest telecoms equipment manufacturer, with conducting business in Iran in violation of US sanctions.
US prosecutors say Huawei did so through Skycom Tech, a Hong Kong-registered firm that the Justice Department alleges was a poorly disguised Huawei front company.
The US says Skycom employees had Huawei email addresses and badges, and that Skycom’s leadership were Huawei employees, including Meng, who has admitted previously serving on its board.
Huawei also at one point owned a stake in Skycom but sold its shares to another company, which the US says also was controlled by Huawei.
The indictment says Meng fraudulently concealed all this from HSBC — a major Huawei banking client for years — and other banks, putting those financial institutions at risk of unknowingly violating Iran sanctions.