Friday, 14 December, 2018

Huawei CFO arrested, faces extradition to U.S.

US Stocks Dive Again Extending Losses Huawei CFO Wanzhou Meng arrested in Vancouver, faces extradition to U.S.
Laurie Berry | 06 December, 2018, 03:44

Canadian law enforcement has arrested Wanzhou Meng, Huawei's global chief financial officer, on the suspicion that she violated USA trade sanctions against Iran, according to a Globe and Mail report.

He said Meng is sought for extradition by the U.S.

Mcleod refused to elaborate on the charges that Meng might face in the USA citing a publication ban, requested by Meng herself. "The ban was sought by Ms. Meng". She is also the daughter of the company's founder, Ren Zhengfei.

Reuters reported in 2013 that Ms. Meng served on the board of a Hong Kong-based Skycom Tech Co.

If Meng has been arrested for violating these restrictions, then this would mark the start of another significant technology export regulation case for the US. She was detained while transferring between flights, the firm said.

Reports of the high-profile arrest come after China issued an upbeat yet vague promise Wednesday to carry out a tariff cease-fire with Washington, giving little to no details that might dispel confusion about what Presidents Xi Jinping and Donald Trump agreed to during the G-20 Summit in Argentina.

Two Marine Corps Aircraft Crash Off Japan, Fate Of Those Onboard Unknown
The aircraft were identified as a KC-130-a plane involved in aerial refueling-and an F/A-18 Hornet-a twin engine fighter jet. The Marines said in a statement that Japanese search and rescue aircraft responded and were aiding in the rescue effort.

Huawei Technologies, launched in 1987 in Shenzhen China, has been the largest telecommunication equipment producer in the world since 2012.

"The company believes the Canadian and United States legal systems will ultimately reach a just conclusion".

The New York Times meanwhile said that the company had been subpoenaed by the Commerce and Treasury Departments over alleged violations of Iran and North Korea sanctions.

In 2012, the House of Representatives released a report warning Huawei poses a national security threat to the US, and American companies and its government should avoid doing business with the company.

Huawei has recently been embroiled in reports of security concerns by western nations, who have recently become increasingly wary of what they say is possible Chinese government involvement in 5G mobile networks and other communications networks.

According to CNBC, the United Kingdom has also blocked the tech giant from providing key equipment for the development of a 5G network by telecommunications firm BT.

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