Friday, 14 December, 2018

Huawei CFO Meng Wanzhou arrested in Canada as USA seeks her extradition

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Ginger Lawrence | 06 December, 2018, 03:41

She will face a bail hearing on Friday, the spokesman for Canada's Department of Justice said.

"As there is a publication ban in effect, we can not provide any further detail at this time", department spokesperson Ian McLeod said in a statement to the newspaper.

We'll update you as this story continues.

Ms. Meng's arrest comes amid a year-long USA government campaign against a company it views as a national-security threat.

"The company believes the Canadian and US legal systems will ultimately reach a just conclusion", the statement said.

The report said the United States had been keeping a close eye on Huawei's alleged shipping of USA products to Iran and other countries in violation of sanction laws. "The ban was sought by Ms. Meng", McLeod said. "The ban was being sought by Ms. Meng".

A Huawei spokesperson did not immediately respond to Business Insider's request for comment. Meng adopted her mother's surname.

The arrest is related to violations of U.S. sanctions, a person familiar with the matter said. "The company believes the Canadian and US legal system will ultimately reach a just conclusion".

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

USA authorities are investigating whether Chinese tech giant Huawei violated sanctions on Iran.

The US imposed harsher sanctions on Iran earlier this year, as the Trump administration looked to restrict worldwide business with the Iranian government.

Australia and New Zealand have already turned down Huawei's offer to supply 5G equipment to telecommunication companies, citing security risks.

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.

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.

The decision was because of the technology, not because it was a Chinese company, said Andrew Little, Minister Responsible for the GCSB.

BT was also removing Huawei equipment from its existing 3G and 4G networks.

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