(Reuters) -China's ZTE Corp saw its shares soar as much as 60% in Hong Kong on Tuesday after the telecommunications equipment maker completed five years of probation in the United States, marking the end of a U.S. criminal case. ZTE's probation - imposed in a 2017 guilty plea deal for illegally shipping U.S. technology to Iran, and extended in 2018 - ended on schedule on March 22, despite a possible violation. An alleged visa fraud had raised the possibility of additional penalties, sending ZTE's stock plummeting earlier this month, but a U.S. judge on Tuesday ruled against further action by the court.
(Reuters) -An FBI agent testified on Monday that Chinese nationals brought to the United States under research visas went to work for ZTE Corp in New Jersey - a possible sign the Chinese tech company violated its probation from a 2017 U.S. plea deal. At a hearing in federal court in Dallas, FBI special agent Marcus Wondergem said Chinese nationals came to the United States under the guise they would be doing research at the lab of Georgia Tech professor Gee-Kung Chang, but spent little time there and moved to apartments near ZTE in Morristown, New Jersey.
Lawyers for ZTE Corp have been summoned to U.S. federal court in Texas on Monday for a hearing over whether the Chinese telecommunications equipment maker violated probation in connection with an alleged conspiracy to commit visa fraud. ZTE is on probation in the United States after pleading guilty in Dallas in 2017 to illegally shipping U.S. technology to Iran and North Korea. ZTE was not charged in that indictment.