HSBC Denies 'framing' Huawei In U.S. Probe

(RTTNews) - Responding to Chinese media reports over dealings with Huawei Technologies Co., HSBC Holdings Plc. (HSBA.L, HSBC) denied the reports that it had "framed" the Chinese telecom giant and played a role in the arrest of the chief financial officer of Huawei.

UK-based HSBC said in a social media post on Saturday that it did not prompt U.S. investigations of the Chinese telecommunications company.

The HSBC statement came after the Chinese media reports accused the bank of "fabricating" evidence and "maliciously framing" Meng.

"HSBC does not have any hostility towards Huawei and did not 'frame' Huawei. The information provided by HSBC Group to the DOJ was done so pursuant to formal demand. In response to US DOJ's requests for information, HSBC Group simply presented the objective facts. HSBC did not "fabricate" evidence or "hide" facts. And HSBC would never distort the facts or seek to harm any of our clients for our own gain," HSBC said in a post on its WeChat account on Saturday.

Meng, also the daughter of Huawei's founder, was arrested by Canada in December 2018 at the request of the U.S. during a layover at the Vancouver airport. She is mounting her defence against an extradition to the United States to face US charges.

The U.S. had alleged that Huawei used a Hong Kong shell company to sell equipment in Iran in violation of U.S. sanctions. It also had said that Meng and Huawei misled American banks about its business dealings in Iran.