Huawei CFO Arrested In Canada

The Chief Financial Officer of Huawei Technologies has been arrested in Canada.

Wanzhou Meng, who is also the daughter of company founder Ren Zhengfei, is facing extradition orders to the U.S. on suspicion of violating trade sanctions against Iran.

Speaking to The Globe and Mail, Canada's Justice Department stated, "Wanzhou Meng was arrested in Vancouver on December 1. She is sought for extradition by the United States, and a bail hearing has been set for Friday."

“As there is a publication ban in effect, we cannot provide any further detail at this time. The ban was sought by Ms. Meng."

These investigations into Huawei were first reported by the Wall Street Journal back in April 2018. The U.S. has been looking into Huawei's alleged shipping of products to Iran since 2016, as these actions violate the country's export and sanctions laws.

The U.S. has been attempting to cease the export privileges that both Huawei and fellow Chinese phone manufacturer ZTE have in the U.S. due to espionage concerns.

The Australian government banned Huawei and ZTE from supplying 5G technology to Australia for similar reasons.

Ms. Meng previously served on Hong Kong's Skycom Tech Co. Ltd. board. In 2013 it was reported that the company attempted to export embargoed HP products to an Iranian phone operator, even though HP does not allow sale of its products in Iran.

Reuters reported that a minimum of 13 pages of the proposal mentioned Huawei, though the manufacturer has said that it did not end up delivering on the equipment.

[The Globe And Mail]

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