Huawei CFO Wanzhou Meng arrested in Vancouver

Huawei CFO Wanzhou Meng arrested in Vancouver

A spokesperson from the federal Justice Department said the chief financial officer of Huawei Technologies was arrested.

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.

In 2007, Ms. Meng served as a board secretary for a Huawei holding company that owned Skycom Tech, a Hong Kong-based company with business in Iran and employees who said they worked for "Huawei-Skycom", according to a person familiar with the matter.

Meng was detained at the request of the United States, which was seeking her extradition to face "unspecified charges", when she was transferring flights in Canada, the company said in a statement.

Outside of the arrest itself, very little information about the case is being released at this time, in large part because a publication ban that was requested by Meng. "The company believes the Canadian and U.S. legal systems will ultimately reach a just conclusion".

The spokesman added that Huawei complies with laws and regulations everywhere it operates.

US authorities have been probing Huawei's alleged shipping of American-origin products to Iran in violation of USA export and sanctions laws, sources told Reuters in April.

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

Meng Wanzhou's detention comes after American authorities reportedly launched an investigation into suspected Iran sanctions by Huawei, which was already under scrutiny by USA intelligence officials, who deemed the company a national security threat.




In 2017, ZTE pleaded guilty in US federal court to evading USA embargoes on Iran, by buying American tech parts, incorporating them into ZTE equipment, then illegally shipping them to Iran.

Meanwhile unconfirmed reports surfaced in April that the USA was investigating Huawei for possibly violating Iran export bans, a scenario that got fellow Chinese firm ZTE into significant trouble earlier this year.

The daughter of Huawei's founder, and the firm's current deputy chair, has been arrested in Canada.

The United States and Australian governments have long expressed concerns about the security implications of using telecommunications equipment from China.

The probation violation cited by the judge involves the same conduct the U.S. Department of Commerce penalized in April by imposing a ban on U.S. companies selling goods to ZTE.

In June, Canada's Globe and Mail newspaper reported that USA lawmakers warned the Canadian government that Huawei posed a major cybersecurity risk.

The Wall Street Journal notes that USA authorities want to bring Meng to federal court in the Eastern District of NY. The Pentagon stopped offering Huawei's devices on US military bases citing security concerns.

Founded in China more than 30 years ago, Huawei's revenue in 2018 exceeded $100billion for the first time in its history, according to CNBC.

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