New York: Chinese telecom equipment maker ZTE Corp on Wednesday pleaded guilty in US federal court in Texas for illegally shipping US goods and technology to Iran.
The guilty plea was part of an agreement the company reached earlier this month with US authorities that also called for nearly $900 million (Dh3.3 billion) in fines and other penalties. The company admitted to three charges: conspiring to export American-made items to Iran without a license from the US government, obstructing justice, and making a material false statement. A five-year investigation had found ZTE conspired to evade US embargoes by buying US components, incorporating them into ZTE equipment and illegally shipping them to Iran.
