Bloomberg:

ZTE Corp. pleaded guilty as part of an agreement to pay as much as $1.2 billion to resolve allegations that the Chinese company violated U.S. laws restricting the sale of American technology to Iran.

The company agreed to pay $892 million in fines and forfeitures and be subject to an additional $300 million in penalties if it violates the terms of the settlement. A federal judge in Dallas accepted and approved the plea deal on Wednesday.

According to court documents, ZTE, either directly or indirectly through a third company, shipped approximately $32 million of U.S. items to Iran between 2010 and 2016 without obtaining export licenses. In early 2010, ZTE began bidding on two different Iranian projects involving the installation of cellular and landline network infrastructure.

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