US hammers Huawei with 23 indictments for alleged trade secret theft fraud

first_img Tags 16 Huawei T-Mobile Comments Huawei could face a fine of up to either $5 million or three times the value of the stolen trade secret, for conspiracy and attempt to steal trade secrets. The company could also face a fine of up to $500,000 for wire fraud and obstruction of justice.In the second set of indictments, Meng was charged with bank fraud, wire fraud and conspiracies to commit bank and wire fraud. Huawei and Huawei USA are charged with conspiracy to obstruct justice. Huawei and Skycom are charged with bank fraud and conspiracy to commit bank fraud, wire fraud and conspiracy to commit wire fraud, violating the International Emergency Economic Powers Act and conspiracy to violate IEEPA, and conspiracy to commit money laundering. The charges are related to the company’s alleged efforts to evade US sanctions and do business with Iran. Last month, Meng was detained in Canada at the behest of the Justice Department over those claims. While in a Vancouver courthouse to discuss her bail, a lawyer with Canada’s Justice Department alleged she defrauded US banks into making transactions that violated those sanctions, according to Bloomberg.The founder’s daughterNotably, Meng isn’t just the CFO of Huawei. She’s the daughter of the founder and president, Zhengfei Ren. And her arrest doesn’t just have ripple effects across the tech industry; it threatens to blow up an already precarious relationship between the US and China over trade talks.Beyond trade, others see Huawei as a national security issue. “It has been clear for some time that Huawei poses a threat to our national security, and I applaud the Trump Administration for taking steps to finally hold the company accountable,” Warner said. [The case] puts every aspect of Huawei’s business in jeopardy in the US and EU. Maribel Lopez, analyst Now playing: Watch this: 5G smartphones are coming Both the US and China are jockeying for leadership in the next-generation of cellular technology, which promises higher speeds and the ability to handle more connected devices. US officials have offered warnings about Huawei and its ties to China. “There is ample evidence to suggest that no major Chinese company is independent of the Chinese government and Communist Party — and Huawei, which China’s government and military tout as a ‘national champion,’ is no exception,” said Sen. Mark Warner, a Virginia Democrat who’s vice chairman of the Senate Select Committee on Intelligence. Huawei, meanwhile, denied any wrongdoing. “Huawei is disappointed to learn of the charges brought against the company today,” the company said in an emailed statement. “After Meng’s arrest, the company sought an opportunity to discuss the Eastern District of New York investigation with the Justice Department, but the request was rejected without explanation,” Huawei continued. “The allegations in the Western District of Washington trade secret indictment were already the subject of a civil suit that was settled by the parties after a Seattle jury found neither damages nor willful and malicious conduct on the trade secret claim.” T-Mobile declined to comment.Two chargesAccording the first set of indictments, Huawei began stealing information about a phone-testing robot from T-Mobile called Tappy. Huawei engineers allegedly violated confidentiality and nondisclosure agreements by taking pictures of Tappy, taking measurements of parts of the robot and stealing a piece of it. When T-Mobile found out and threatened to sue, Huawei falsely said the theft was done by rogue actors within the company, according to the indictment. T-Mobile sued anyway, and in 2017 won its case against Huawei, with a jury awarding it $4.8 million.Despite Huawei’s insistence that the action was a one-off affair, the Justice Department says emails obtained during the investigation found that the theft of secrets from T-Mobile was a companywide effort. It has been clear for some time that Huawei poses a threat to our national security. Sen. Mark Warner Share your voice Huawei has consistently denied any wrongdoing by Meng. At the World Economic Forum at Davos, Huawei Chairman Liang Hua called for a quick resolution of the case and the release of Meng, according to Reuters.Meng’s lawyer, Reid Weingarten, told Reuters on Tuesday that she was a victim of “complex” China-US relations.”Our client, Sabrina Meng, should not be a pawn or a hostage in this relationship.” he said, using one of her Western names. “Ms. Meng is an ethical and honorable businesswoman who has never spent a second of her life plotting to violate any US law, including the Iranian sanctions.”Huawei also told Reuters that it had sought to discuss the charges with US authorities, “but the request was rejected without explanation.”Over the past few months, Huawei has endured a wave of negative sentiment. UK carrier BT said it’d pull Huawei equipment out of its 4G network and ban it from any future 5G deployments. Japan reportedly banned government purchases from Huawei. Also last month, Andrus Ansip, the EU’s technology chief, warned that Huawei and other Chinese companies pose a risk to the bloc’s industry and security, according to Reuters.All of the negativity could have a trickle-down effect on the company. “[The case] puts every aspect of Huawei’s business in jeopardy in the US and EU, including consumer sales,” said Maribel Lopez, an analyst at Lopez Research. “Instead of being known for innovation, the company is positioned as criminal.”First published Jan. 28 at 2:09 p.m. PTUpdate Jan. 29 at 2:59 a.m. PT: Added Reuters comments from Meng’s lawyer and Huawei.Update at 5:08 a.m. PT: Added comment from Huawei.NASA turns 60: The space agency has taken humanity farther than anyone else, and it has plans to go further.Taking It to Extremes: Mix insane situations — erupting volcanoes, nuclear meltdowns, 30-foot waves — with everyday tech. Here’s what happens. The Huawei logo in Warsaw, Poland. NurPhoto/Getty Images The US Department of Justice on Monday charged Huawei with theft of trade secrets, wire fraud and obstruction of justice.A 10-count indictment alleges that China’s Huawei stole trade secrets from US carrier T-Mobile beginning in 2012. Huawei also allegedly offered bonuses to employees who stole confidential information from companies. In addition, a 13-count indictment charged four defendants, including Huawei and Chief Financial Officer Meng Wanzhou, with financial fraud. The indicted defendants also include affiliates Huawei USA and Skycom.”The charges unsealed today clearly allege that Huawei intentionally conspired to steal the intellectual property of an American company in an attempt to undermine the free and fair global marketplace,” said FBI Director Christopher Wray in a statement. “To the detriment of American ingenuity, Huawei continually disregarded the laws of the United States in the hopes of gaining an unfair economic advantage.”The charges come amid heightened scrutiny for Huawei, the world’s largest supplier of telecom equipment and the No. 2 smartphone maker behind Samsung. The US has already banned Huawei from selling networking equipment here, but a number of other countries have either already ceased working with the company, or are considering a ban. The Chinese government and Huawei have said the moves could have ramifications since the company contributes to industry-standard wireless technologies like 5G. 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Indian Money in Swiss banks sees a 20year low

first_imgMoney held by Indians in Swiss Banks fell to a record low of Rs 8,392 crore (1,217 million swiss franc) at the end of 2015, said latest data by Swiss National Bank (SNB). The fall was nearly by two-third of the Rs. 23,000 crore stashed in December of 2006.This was the lowest amounts held by Indians in Swiss Bank since the data was officially released in 1997 for the first time. Last year too (2014), the fall was a record number, with amount hovering around 1,776 million Swiss francs.Press Trust of India noted that SNB’s data on “amounts due to their clients” or “liabilities” do not mean or indicate anything to do with India’s hotly debated black money numbers. Neither does it factor in accounts kept by Indians under names or entities registered outside India in a foreign country.SNB data said the amount held by all foreign individuals and entities saw a near 4 percent fall to 1.41 trillion Swiss francs (about Rs. 98 lakh crore) from the previous year.”PM Modi gets Switzerland’s support to tackle tax evasion”Account Break UpGiving a break down in the accounts held by Indians, SNB said while the total amount held directly by Indians was 1,206.71 million Swiss francs, fiduciaries or wealth managers managed accounts of another 10.89 million. Fiduciaries accounts too saw a 71 percent fall from 37.92 million Swiss francs stashed at 2014-end; it used to be in billions till 2007, noted PTI.Savings and Deposit account liabilities saw a 61 percent fall to 425.8 million Swiss francs in a year period. However, the money held through other banks doubled to 270.4 million Swiss francs. Funds held in the form of securities by Indians grew from 297 million Swiss francs to 510.4 million.”Money held by Indians in Swiss Banks: Rs 8,392 crore”Regulatory Mechanisms The news agency added that regulatory crack down from countries across the globe, including India, had led to a fall in Swiss amount. It noted that the Swiss’ secrecy wall was crumbling for Indians who are under scrutiny by many measures back home.A supreme court monitored special investigative team (SIT), a new law to clampdown hoarding black money abroad, anti money laundering act and compliance window offer by government of India was tightening the noose, said the agency.India is one of the early adopters of the Automatic Exchange Of Information (AEOI) standards approved by the Organisation for Economic Co-operation and Development. Switzerland is set to adopt the standards by 2018. Prime Minister Narendra Modi who visited the European nation past week stressed for an early start of negotiations on AEOI.last_img read more

Box office collection Gurkha Gorilla off to a decent start perform better

first_imgGurkha and Gorilla.PR HandoutYogi Babu’s much-hyped Gurkha occupied the top spot at the Chennai box office in the last weekend. The film has performed better than a few new releases that include Gorilla and Hrithik Roshan’s Bollywood film Super 30.In the first weekend, Gurkha grossed Rs 48.83 lakh from 183 shows, reports Behindwoods. The movie has met with mixed reviews and the success of the film will be decided on how the audience respond in the days to come.Jiiva’s Gorilla is in second place. It has raked in Rs 44.75 lakh from 141 shows. This flick has also met with mixed reviews. This week, a few films that include Amala Paul’s Aadai and Vikram’s Kadaram Kondan will be released and retaining screens could be tough for the last-weekend releases.Hollywood movie Spider-Man: Far From Home has collected Rs 38.99 lakh from 66 shows. It has earned a ‘hit’ status at the Chennai box office by raking in Rs 2.24 crore in 10 days.Bollywood film Super 30 has got a good start at the Chennai box office. The film has earned Rs 34.62 lakh from 75 shows. New Tamil release Vennila Kabadi Kuzhu 2 has collected Rs 19.31 lakh from 108 shows.The business of Jyothika’s Raatchasi has dropped in the second weekend by earning Rs 12.86 lakh from 60 shows. The total collection of the flick stands at Rs 1.01 crore. It is followed by Bodhai Yeri Budhi Maari, which has earned Rs 7.32 lakh from 51 shows.Samantha’s Oh Baby has collected Rs 3.45 lakh from 21 shows. The total collection of the movie stands at Rs 17.99 lakh from 21 shows. Kalavani 2 and Thozhar Venkatesan are in the last two positions by collecting Rs 2.86 lakh from 30 shows to take its total tally to Rs 26.15 lakh and Rs 2.19 lakh from 39 shows, respectively.last_img read more

Pitcher Roy Halladay Dies In Gulf Of Mexico Plane Crash

Pitcher Roy Halladay Dies In Gulf Of Mexico Plane Crash

first_imgPhoto via Wikimedia CommonsMajor League Baseball pitcher Roy Halladay died in a small plane crash in the Gulf of Mexico.Authorities have confirmed that former Major League Baseball pitcher Roy Halladay died in a small plane crash in the Gulf of Mexico off the coast of Florida.Pasco County Sheriff Chris Nocco said during a news conference that Halladay’s ICON A5 went down about noon Tuesday near Holiday, Florida.The sheriff’s office marine unit responded to the downed plane and found Halladay’s body. No survivors were found.They said they couldn’t confirm if there were additional passengers on the plane or say where it was headed.Halladay retired in 2013 after 12 seasons with the Toronto Blue Jays followed by four seasons with the Philadelphia Phillies. Sharelast_img read more

Transat adds Cartagena Princess Cruises and more to cruise package program

Transat adds Cartagena Princess Cruises and more to cruise package program

first_imgTransat adds Cartagena, Princess Cruises and more to cruise package program Friday, August 10, 2018 Tags: Cartagena, Princess Cruises, Transat MONTREAL — Transat has announced several additions to its 2018-2019 cruise package program, including over 10 new ships, the cruise line Princess Cruises, and Cartagena as a port of embarkation.“With the growing popularity of our all-in-one cruise package program, we’re always seeking new partners and specific itineraries to fine-tune our program and please all of our customers, from families with young children to millennials looking for an adventure at sea,” said Annick Guérard, Chief Operating Officer at Transat.New and popular itineraries:There are 46 itineraries included in the program and 16 different ships that sail from seven ports of embarkation.With Pullmantur Cruises, Transat has added an all-new itinerary that sails out of Cartagena and visits Costa Rica and Panama.Transat will once again offer cruises sailing out of San JuanNEW: Guests can now add alcoholic and non-alcoholic beverages to Transat cruise packages offered by Costa in the Caribbean and Mediterranean, as well as with Pullmantur Cruises.Transat will sail the Mediterranean with 16 itineraries and 13 ships.In Europe, Transat offers 11 river cruise itineraries with CroisiEurope.New European river cruises are ideal for making a cross-Atlantic trip even better, much like an excursion. For example, in Andalusia, Spain and Venice, Italy, clients can extend any itinerary with a cruise lasting from a few days to more than a week.More news:  GLP Worldwide introduces first-ever Wellness programsTransat advantages:With Flight Protection, clients are sure to get to their port in the event of a flight or ship delay.Clients can also add a hotel stay to their cruise.Under certain conditions, clients can move up their departure date up to 14 days before their cruise, or postpone their return up to 14 days after, at no extra cost.Passengers who book a Caribbean or European cruise package also receive additional baggage allowance (an extra 5kg for a total of 28kg). << Previous PostNext Post >>center_img Travelweek Group Posted by Sharelast_img read more