Friday, 14 December, 2018

Huawei CFO Wanzhou Meng arrested in Vancouver, faces extradition to U.S.

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Laurie Berry | 06 December, 2018, 03:44

The chief financial officer of China-based global tech giant Huawei Technologies was arrested in Vancouver this week.

Meng is the daughter of Huawei's founder and CEO Ren Zhengfei, and also serves as deputy chair on Huawei's board.

According to an official statement from a Canadian Justice Department spokesperson, the US government is seeking to extradite Meng from Canada to the United States.

"As there is a publication ban in effect, we can not provide any further detail at this time", McLeod said, adding, "The ban was sought by Ms. Meng".

Huawei confirmed the arrest in a statement and said that it has been provided little information of the charges against Meng, adding that it was "not aware of any wrongdoing by Ms. Meng".

USA authorities have been probing Huawei since at least 2016 for allegedly shopping US-origin products to Iran and other countries in violation of U.S. export and sanctions laws, sources told Reuters in April.

Officials for the Canadian and US Justice Departments did not immediately respond to a request for comment. "The ban was being sought by Ms. Meng".

Daily December E-mini S&P 500 Index
Daily December E-mini S&P 500 Index

USA prosecutors in NY have been investigating whether Huawei violated US sanctions in relation to Iran. Meng adopted her mother's surname.

Canadian law enforcers have arrested a top executive at Chinese telecommunications equipment maker Huawei, heeding a request from the US.

Huawei's relationship with the USA just took a turn for the worse.

The U.S. government has been concerned about Huawei for years because of uncertainty over its relationship with the Chinese government. "Americans are grateful that our Canadian partners have arrested the Chief Financial Officer of a giant Chinese telecom company for breaking USA sanctions against Iran".

Canada, Australia and New Zealand were among the nations to ban the use of Huawei's equipment due to security concerns.

One of Huawei's top executives was arrested in Canada today, but the move was reportedly made at the request of the United States government.

Britain's BT Group said on Wednesday it was removing Huawei Technologies' equipment from the core of its existing 3G and 4G mobile operations and would not use the Chinese company in central parts of the new network.

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