Huawei CFO arrested in Canada faces extradition to the United States

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The United States has had an ongoing investigation of Huawei, probing if the company has been violating the trading sanctions with Iran.

Huawei CFO Meng Wanzhou was arrested in Canada yesterday at the request of the United States government. The Huawei CFO is suspected of violating United States trade sanctions against Iran. Wanzhou is the daughter of company founder Ren Zhengfei and she not only serves as Huawei CFO but also deputy chair of the Huawei board.

“She is sought for extradition by the United States, and a bail hearing has been set for Friday,” Justice Department spokesman Ian McLeod said in a statement to The Globe and Mail on Wednesday. “As there is a publication ban in effect, we cannot provide any further detail at this time. The ban was sought by Ms. Meng.”

A Canadian law-enforcement source with knowledge of the arrest said the United States is alleging Ms. Meng tried to evade the American embargo against Iran, but provided no further details. The source was granted anonymity by The Globe because they weren’t authorized to speak publicly about the arrest.

The United States currently has an ongoing investigation of Huawei, probing if the company has been violating the trading sanctions with Iran. As you can imagine, the company wasn’t all too happy about Wanzhou’s arrest and has demanded her release.

“The company has been provided with very little information regarding the charges and is not aware of any wrongdoing by Ms. Meng. The company believes the Canadian and U.S. legal systems will ultimately reach a just conclusion,” Huawei said, and added the company “complies with all applicable laws and regulations where it operates, including applicable export control and sanction laws.”

It will be interesting where the story leads from here. For now, the Huawei CFO is on her way to the United States to be turned over to authorities there.

What do you think of the arrest of Huawei’s CFO? Let us know in the comments below or on Google+, Twitter, or Facebook.

  Source: The Globe and Mail
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