Huawei To Stand Trial In US On Charges Of Bank Fraud, Sanctions Violations, Theft

Chinese company Huawei Technologies will stand trial on multiple charges after a federal judge denied its bid to dismiss a long-running case against it.

On July 1, District Judge Ann Donnelly of the U.S. District Court for the Eastern District of New York ruled that there was sufficient evidence to proceed with a 16-count indictment against Huawei and its subsidiaries.

Huawei, which is closely tied to the Chinese communist regime, stands accused of racketeering, stealing trade secrets from six U.S. companies, and committing bank fraud.

With Donnelly’s ruling, the case will move forward toward trial. Currently, the proceedings are scheduled to begin on May 4, 2026.

Huawei stands charged with using a Hong Kong-based front company, Skycom, to conduct business in Iran in violation of U.S. sanctions and with misleading banks in order to facilitate more than $100 million in illegal money transfers.

Additionally, the indictment alleges that Huawei engaged in racketeering to expand its global brand.

Representatives of Huawei did not respond to a request for comment from The Epoch Times by publication time.

In November 2024, Huawei pleaded not guilty and called itself “a prosecutorial target in search of a crime.”

The upcoming trial is expected to last several months and could have significant implications for the ongoing tensions between the United States and China over technology, trade, and national security.

As part of the long-running federal investigation into Huawei’s business dealings, Huawei’s chief financial officer, Meng Wanzhou, also the daughter of the company’s founder, Ren Zhengfei, was previously charged and detained in Canada for nearly three years before the charges against her were dismissed in 2022 as part of a deferred prosecution agreement.

Huawei, based in Shenzhen, China, operates in more than 170 countries and employs approximately 208,000 people worldwide. The U.S. government has imposed restrictions on Huawei’s access to U.S. technology since 2019, citing national security concerns; Huawei has denied those accusations.

Along with manufacturing smartphones and consumer technolog

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“This Is The Next Level”: AI-Powered “Digital Workers” Deployed At Major Bank To Work Alongside Humans

If you’re working in banking, your next colleague could be a bot. Once unthinkable, the Bank of New York Mellon announced that it has deployed dozens of artificial intelligence-powered “digital employees” that operate with human employees, and even have their own company login credentials.

The Wall Street Journal reports:

Similar to human employees, these digital workers have direct managers they report to and work autonomously in areas like coding and payment instruction validation, said Chief Information Officer Leigh-Ann Russell. Soon they’ll have access to their own email accounts and may even be able to communicate with colleagues in other ways like through Microsoft Teams, she said.

What the bank, also known as BNY, calls “digital workers,” other banks may refer to as “AI agents.” And while the industry lacks a clear consensus on exact terminology, it’s clear that the technology has a growing presence in financial services.

This is the next level,” Russell told the Journal. “I’m sure in six months’ time it will become very, very prevalent.

BNY said its AI Hub developed two digital employee personas in three months, according to Adrienne Russell. One persona is engineered to identify and resolve coding vulnerabilities, while the other verifies payment instructions. Each persona can operate in multiple instances—up to several dozen—with each instance confined to a specific team to limit company wide data access.

Soon, the bank plans to integrate its digital workforce with email addresses and Microsoft Teams access in the near future, enabling these AI personas to proactively communicate with human managers, but will maintain its focus on recruiting top human talent while simultaneously expanding its digital workforce, according to the Journal.

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Treasury Sanctions 3 Mexican Financial Institutions For Aiding Cartels In Fentanyl Trade; Sheinbaum Denies

Mexican President Sheinbaum has commented on the sanctions, denying any fraud and claiming the Mexican banking system is ‘sound’:

  • *SHEINBAUM: NO EVIDENCE OF MONEY LAUNDERING IN MEXICAN BANKS
  • *SHEINBAUM SAYS MEXICO ONLY FOUND ADMINISTRATIVE FLAWS IN BANKS
  • *SHEINBAUM: MEXICO ASKED US TREASURY MONEY LAUNDERING EVIDENCE
  • *SHEINBAUM: MEXICAN FINANCIAL SYSTEM SOUND, ACCUSED FIRMS SMALL
  • *MEXICO TRANSFERS TO CHINA COS ‘NOT MONEY LAUNDERING’: SHEINBAUM

Just a coincidence?

As Naveen Athrappully detailed earlier via The Epoch Times, The Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) sanctioned three financial institutions based in Mexico for allegedly laundering money for cartels involved in the illegal trade of fentanyl, the Treasury said in a June 25 statement. The institutions are CIBanco S.A., Intercam Banco S.A., and Vector Casa de Bolsa S.A. de C.V.

CIBanco and Intercam are commercial banks with assets worth more than $7 billion and $4 billion, respectively. Vector is a brokerage company managing almost $11 billion in assets.

FinCEN has determined that the entities launder money in connection with illicit opioid trafficking, and have “collectively played a longstanding and vital role in laundering millions of dollars on behalf of Mexico-based cartels and facilitating payments for the procurement of precursor chemicals needed to produce fentanyl,” the statement said.

CIBanco facilitated illicit opioid trafficking by Mexican cartels such as Jalisco New Generation Cartel (CJNG), Beltran-Leyva Cartel, and Gulf Cartel. Intercam was linked to CJNG, and Vector with the Sinaloa Cartel and Gulf Cartel, said the statement.

FinCEN said that between 2021 and 2024, CIBanco processed more than $2.1 million in payments from Mexico-based companies to entities in China that shipped precursor chemicals to Mexico. Intercam processed over $1.5 million during the same period.

As for Vector, the institution processed more than $1 million between 2018 and 2023.

The sanctions prohibit financial institutions in the United States from engaging in the transmission of funds from or to CIBanco, Intercam, or Vector. The prohibition also applies to any account or convertible virtual currency address administered by the three institutions.

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To Defeat Drug Cartels, Corrupt Bankers Must Be Jailed

“There are far more ‘bad apples’ in the banking sales industry, in the legal profession, in the financial service provider industry and in the international business community than the world can comprehend.” – Robert Mazur

Drug cartels are menacing on two levels: they mass produce and sell extremely addictive drugs literally by the ton, and they leverage highly effective global money laundering systems to plow their illegal profits into mainstream commerce. Too often, corrupt bankers are actively or passively complicit. If we can stop the bankers, we throw a huge wrench into the cartels’ ability to function.

For decades, law enforcement has valiantly fought drug smugglers but to little avail. Consider this 2024 statement from the U.S. Treasury:

During the assessment period, Clan del Golfo (CDG), a Colombia-based TCO and paramilitary organization, remained a significant producer and trafficker of cocaine destined for U.S. drug markets and earned a significant amount of proceeds in U.S. dollars. According to the DOJ, CDG is one of the most violent and powerful criminal organizations in Colombia, and it is one of the largest distributors of cocaine in the world.

Mostly, America’s fight against the cartels has been done using a tactical troops on the ground approach that sends some of the most vicious cutthroat criminals to prison. However, the bankers who knowingly handle the cartels’ money rarely pay a price. And it’s a lot of money: “The United Nations Office on Drugs and Crime estimates between 2 per cent and 5 per cent of global GDP—up to $2 trillion—is laundered every year.” According to a DEA agent, the cartels are “undermining [America’s] financial stability.”

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Top Canadian bank studies possible use of digital dollar for ‘basic’ online payments

Canada’s central bank has been studying ways to introduce a central bank digital currency (CBDC) for use for online retailers, according to a new report, despite the fact that recent research suggests Canadians are wary of any type of digital dollar.

In a new 47-page report titled, “A Retail CBDC Design For Basic Payments Feasibility Study,” which was released on June 13, 2025, the Bank of Canada (BOC) identified a “promising architecture well-suited for basic payments” through the use of a digital dollar.

The report reads that CBDCs “can be fast and cheap for basic payments, with high privacy, although some areas such as integration with retail payments systems, performance of auditing and resilience of the core system state require further investigation.”

While the report authors stopped short of fully recommending a CBDC, they noted it is a decision that could happen “outside the scope of this analysis.”

“Our framing highlights other promising architectures for an online retail CBDC, whose analysis we leave as an area for further exploration,” reads the report.

When it comes to a digital Canadian dollar, the Bank of Canada last year found that Canadians are very wary of a government-backed digital currency, concluding that a “significant number” of citizens would resist the implementation of such a system.

Indeed, a 2023 study found that most Canadians, about 85 percent, do not want a digital dollar, as previously reported by LifeSiteNews.

The study found that a “significant number” of Canadians are suspicious of government overreach and would resist any measures by the government or central bank to create digital forms of official money.

The BOC has said that it would continue to look at other countries’ use and development of CBDCs and will work with other “central banks” to improve so-called cross border payments.

Last year, as reported by LifeSiteNews, the BOC has already said that plans to create a digital “dollar,” also known as a central bank digital currency (CBDC), have been shelved.

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Suspected Israeli hackers claim to destroy data at Iran’s Bank Sepah

An anti-Iranian government hacking group with potential ties to Israel and a track record of destructive cyberattacks on Iran claimed in social media posts on Tuesday that it had destroyed data at Iran’s state-owned Bank Sepah.

The group — known as Gonjeshke Darande, or “Predatory Sparrow” — hacked the bank because they accused it of helping fund Iran’s military, according to one of the messages posted online.

The hack comes amid increasing hostilities between Israel and Iran, after Israel attacked multiple military and nuclear targets in Iran last week. Both sides have launched multiple missile attacks against each other in the days since.

Reuters could not immediately verify the attack on Bank Sepah. The bank’s website was offline on Tuesday and its London-based subsidiary, Bank Sepah International plc, did not immediately respond to an emailed request for comment.

Customers were having problems accessing their accounts, according to Israeli media.

Gonjeshke Darande did not respond to multiple messages sent via social media.

“Disrupting the availability of this bank’s funds, or triggering a broader collapse of trust in Iranian banks, could have major impacts there,” Rob Joyce, the former top cybersecurity official at the NSA, said in a post on X.

In 2022, Gonjeshke Darande claimed responsibility for a cyberattack against an Iranian steel production facility. The sophisticated attack caused a large fire at the facility, resulting in tangible, offline damage. Such attacks are usually beyond the capabilities of activist hackers, security experts say, and would be more in line with the capabilities of a nation state.

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A US Bank Closed Our Accounts Because I’d Visited Cuba Six Months Ago

For years, World BEYOND War and other peace groups from around the world had been attending peace conferences in Cuba. When I visited Cuba this past January it was with a visa for that purpose. I published here the remarks I made at the conference. We shouted as loudly as we could about January’s conference in websites, social media, emails, and media interviews. The notion that there could be anything wrong with it — or that some institution could punish us for it — never entered our minds.

Legally, you’re allowed to go to a peace conference in Cuba. Nobody has so much as hinted that I’ve done anything illegal. But on Thursday June 5th I got a bunch of letters in the mail telling me that on Monday June 9th the U.S. bank accounts of World BEYOND War and the private accounts of all of my family members would be closed without explanation. This was the action of a particular bank called First Citizens, with no indication of any involvement by any government. (The explanation, it would be made clear, was my visit to Cuba.)

Morally, it seems a useful thing to do — attending peace conferences in Cuba. As at similar conferences in many other countries, one can meet diplomats, authors, activists, and politicians from all over the world to discuss peace education, disarmament, negotiations, and cross-cultural understanding. Videos of the entire conferences in Cuba, like most others around the world, are posted online for all to see.

World BEYOND War works to abolish all war, and opposes all sides of all wars — an unusual position even at peace conferences. We are constantly working to persuade some people not to support the Russian side of a war and other people not to support the Ukrainian side. We oppose any and all war-making by the U.S., Cuba, or anyone else, without equating disparate sides or blaming victims in any actual wars. Some groups try to shut down weapons programs because the weapons don’t work well; we start with opposing those that kill the most. When Trump sends troops into Los Angeles, we don’t join the Governor of California in asking that soldiers and Marines do their work abroad; we ask people to think about whether such armed forces should invade anyone else’s city either. The nice thing about peace conferences is that we can advance these views nonviolently, disagreeing amicably.

The problem, apparently, for a U.S. bank, with Cuban peace conferences is that, as with many things in Cuba, the Cuban government is involved. The president of the country wanders into the panel sessions. While that has the potential to cause censorship, it also has the potential to educate decision makers. I’d like to see presidents wandering in at peace conferences in Washington and other capitals.

Of course, the U.S. government has been sanctioning and blockading Cuba for generations, for the stated illegal purpose of overthrowing the government but — as usual — with the result of strengthening it instead, and the actual illegal impact of impoverishing the Cuban people — whose impoverishment is then blamed on the Cuban government and used as an excuse to overthrow it. This cruelty from the North provides a handy excuse for all sorts of repression and awful governance by the Cuban government, just as with the Iranian government and several others.

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Stripe And Substack Demand Authors’ Financial Details

Financial privacy is a right under the Constitution, as is free speech.  

Under the guise of “credit review,” Stripe is now rolling out a requirement that appears to target conservative or “anti-vax” Substack authors. Stripe is requiring that these authors provide all of their current and historic financial records associated with the bank account into which Stripe deposits Substack subscriber payments (after taking 10% off the top for Substack and 3% for Stripe). Stripe already has information concerning this bank account (including deposits from Stripe), as we have been doing business with Stripe via this account for over two years.

If I or anyone else agree to these new terms, this newly implemented arbitrary, capricious and overreaching requirement will provide Stripe with complete records of all financial transactions associated with this account. Consequently, this will provide Stripe with comprehensive information on all of my customers, patients, and clients, all of my travel (historic and planned), all of my purchases, and any donations (and donor information).

This information from my account and those of any others who comply with this demand can be hacked or sold, provided to the US Government, used to fuel predictive algorithms (AI), used to derive insights into my political orientation, weaponized against me by press or other hostile actors, or used to support future social credit score-based restrictions.

Stripe has a history of financially deplatforming (or debanking) for political reasons, including removing support for Donald Trump’s presidential campaign. Despite its relatively recent entry into the financial transaction business, Stripe has become a major global financial organization, and processed one $1 trillion in payments during 2023, and is now expanding its credit charge program

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Politicians and Bankers Are Crooks

One of the great things about the Internet Age is the opportunity to discover the words and ideas of people who don’t have publishing contracts or university tenures.  Usually written anonymously or under online handles, there is genius lurking everywhere (even in the comment sections of these articles).

One such jewel caught my eye recently: “Imagine a government operated so poorly they had to import an entire nation of new voters because they lost the citizen vote.”  Another argued, “If your country has enough money to give to other countries, your taxes are too high.”  If our celebrity intellectuals were as pithy as some of the unknown writers who drop pearls across the Internet, critical thinking skills would return to America in no time.

Both those observations above masterfully capture our predicament, don’t they?  Now that the USAID scandal has pierced the public’s consciousness, people from all walks of life are admitting that the U.S. government is little more than a money laundering operation for political and financial elites.  Congress creates spending bills that award trillions of dollars to bureaucratic agencies, “non-governmental” organizations, and foreign governments.  Agency employees take their cut, promise fidelity to the federal Leviathan, and allocate the rest to well-connected private businesses and third parties.  The NGOs take their cut, bribe voters and special interest groups, and advocate on behalf of the government and wealthy political donors.  Foreign governments take their cut, hand over their countries’ natural resources to multinational conglomerates, and start or manage wars that benefit the military-industrial complex.  

Spending bills include funds for NPR, PBS, and countless other state-funded propaganda organs — both inside and outside of the U.S. — so that an army of liars exists to parrot the federal government’s preferred “narratives.”  These “narratives” are monetized to enrich corporate firms and further empower central banks.  Endless stories about “climate change” justify new carbon taxes, central bank digital currencies, and the nationalization of entire industries.  Endless stories about why Americans should fight and die for a corrupt Ukrainian dictatorship justify new defense spending.  Endless stories about emerging pandemics justify lockdowns, censorship, and billions more for Big Pharma’s gene-altering “vaccines.”  At every step of the way, the Federal Reserve is ready to leverage its power over the U.S. government by conjuring new money with its magic wand that can be used to pay for all these boondoggles, unwinnable wars, and expensive misadventures.

In turn, the companies, banks, and financial elites who most benefit from the U.S. government’s money tree never forget to tip the politicians who allow the great American money laundering operation to continue.  Whereas the rest of us go to prison for profiting from insider trading, politicians (and their families and friends) get obscenely wealthy.  They invest in defense stocks before starting wars, invest in pharmaceutical stocks before releasing Wuhan bioweapons into the world, and invest in “green energy” companies before passing laws that subsidize solar panels, wind farms, and electric vehicles.  Politicians start family foundations that attract a remarkable array of “charitable” donors from the very industries that those politicians regulate, as well as from a slew of prominent foreign officials currying favor with the United States.  When those politicians run for re-election, they find that the same multinational corporations that benefit from the federal government’s regulatory and spending priorities are first in line to write new campaign checks.  

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The PayPal Mafia

Some may have heard of the tech geniuses who compose “The PayPal Mafia.” The mainstream media glamorizes them as “tech visionaries,” a band of rebellious geniuses who disrupted finance and went on to build empires. Yet, beneath the surface of the so-called PayPal Mafia is not innovation for the public good, but the construction of a new form of oligarchy—one more dangerous than the robber barons of the 19th century. Why? Because this new class of elites doesn’t merely build companies. These men influence monetary systems, shape global narratives, and fund policy engineering through unelected channels.

PayPal emerged in the late 1990s during the dot-com bubble, which I had warned would crash by 2000. PayPal became a clever workaround to bypass the traditional banking system, cloaked under the premise of convenience. This so-called “mafia” includes Peter Thiel, Elon Musk, Reid Hoffman, Max Levchin, David Sacks, Scott Banister, Roelof Botha, Steve Chen, Chad Hurley, Jawed Karim, Premal Shah, Yu Pan, and Yishan Wong, among others who had roots in PayPal. Each went on to build their own tech empire spanning across biotech, social media, space, venture capitalism, and surveillance.

Fortune Magazine ran an article about these men in 2007, and even asked them to dress up as traditional mafia gangsters. These men are the new tech elite who wield immense power and influence. Elon Musk’s deep ties to Donald Trump shone a new light on how deeply the so-called PayPal Mafia has become embedded in politics and geopolitical affairs.

I reported how Peter Thiel provided J.D. Vance a platform to enter politics. Thiel introduced Vance to Silicon Valley and welcomed him into the scene of the tech elite. Theil’s Palantir was recently awarded a massive contract to create the first US federal centralized government database that will house every piece of data on every American citizen. Again, this is happening under the premise of convenience.

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