Chinese cellphone maker agrees to pay record fine to the U.S.

The Justice Department says the Chinese firm ZTE Corp. has agreed to plead guilty and pay the United States $892 million for violating sanctions against Iran.

The department said the company had illegally shipped sensitive U.S.-made equipment to Iran.

U.S. Commerce Secretary Wilbur Ross read a statement about the actions, telling reporters, “with this action we are putting the world on notice, improper trade games are over with.”

Ross did not take questions.

According to legal documents, ZTE obtained the banned goods over a six-year period and shipped them to customers in Iran, knowing that the sales violated the sanctions.

ZTE entered a guilty plea and also settled charges with the Commerce and Treasury departments.

 

(AP)

 

 
 
 
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