Market Chatter: Huawei to Face US Trial Over Iran Business Dealings

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Huawei is set to face trial for alleged bank fraud against HSBC (HKG:0005) and other banks over the Chinese technology company's business dealings in Iran, Reuters reported Tuesday.

The charges come eight years after prosecutors lodged the case against the tech firm, which also faces allegations of infringing on state secrets and lying about its dealings with North Korea, according to the report.

A federal court has begun selecting the jury for the case, Reuters said.

Huawei did not immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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