China's ZTE pleads guilty, settles with U.S. over Iran, North Korea sales

China's ZTE pleads guilty, settles with U.S. over Iran, North Korea salesBy Karen Freifeld NEW YORK (Reuters) – Chinese telecom equipment maker ZTE Corp will plead guilty and pay $ 892 million to settle allegations it violated U.S. laws that restrict the sale of American-made technology to Iran and North Korea, the company and U.S. government agencies said on Tuesday. ZTE entered into an agreement to plead guilty to conspiring to violate the International Emergency Economic Powers Act, obstruction of justice and making a material false statement, the U.S. Justice Department said. The settlement was made with Justice, the U.S. Commerce Department and the U.S. Department of Treasury.



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