What you need to know
- Huawei has been indicted for racketeering and conspiracy to steal trade secrets by the U.S. DOJ.
- The firm reportedly offered bonuses for employees who could steal secrets from competitors.
- This marks a significant escalation in the U.S. government's campaign against the Chinese firm.
The U.S. Department of Justice today charged the Chinese telecoms giant Huawei and its subsidiaries with conspiracy to steal trade secrets as well as violations of the Racketeer Influenced and Corrupt Organizations (RICO) Act in a new 16-count superseding indictment returned on Wednesday.
The indictment names, as defendants, Huawei itself and its subsidiaries including Huawei Device Co. Ltd. (Huawei Device), Huawei Device USA Inc. (Huawei USA), Futurewei Technologies Inc. (Futurewei) and Skycom Tech Co. Ltd. (Skycom), it also names officials like as well as Huawei's Chief Financial Officer (CFO) Wanzhou Meng (Meng), held under house arrest in Canada on fraud charges.
In a press release announcing the new charges, the DOJ said:
Huawei was also accused of covertly shipping products to sanctioned countries like Iran and North Korea. The firm allegedly used code-words to refer to shipments in those regions, and worked hard to conceal their activities from authorities.
Huawei has yet to issue a public comment on this new development.
Update: Huawei statement
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