ZTE Penalty Shows Peril of Lying to U.S. ZTE Penalty Shows Peril of Lying to U.S.
ZTE Corp. was slapped with a seven-year ban from receiving U.S. exports, in part because the Department of Commerce determined the firm did not hold up its end of a bargain settling export-controls and sanctions violations. The department accused ZTE of lying during settlement negotiations and the period following the agreement. According to the allegations, ZTE retained and paid full bonuses to employees it was supposed to discipline for the violations.
