ZTE hit with 2-year ‘monitoring’ extension after breaking probation terms

TechCrunch | 10/4/2018 | Staff
jolan (Posted by) Level 3
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Embattled Chinese tech firm ZTE narrowly survived after the U.S. Department of Commerce hit it with a $1 billion fine and forced changes to its business earlier this year, and. Now it is back in the news for negative reasons after it was judged to have broken the probation around a fine that it copped in 2017.

The company agreed to pay $892 million last March after pleading guilty to charges of violating U.S.-Iran sanctions — the same issue that triggered the initial ban from the Department of Commerce. A condition of that 2017 deal was that the company would be ‘monitored’ until 2020 to ensure against repeat offenses. That term has been extended by a further two years by a U.S. court — as Reuters reports — it had “falsely disciplined” employees who were part of the Iran trading activities.

ZTE - Members - Staff - Discipline - Others

ZTE had been required to terminate the senior members of staff and discipline the others involved.

ZTE disclosed...
(Excerpt) Read more at: TechCrunch
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