Huawei CFO arrested, faces extradition for suspected sanctions violations

Huawei’s Chief Financial Officer (CFO) has been arrested in Canada and faces extradition to the United States because it suspects that she was involved in breaking U.S. sanctions against Iran. According to The Globe and Mail, the CFO was arrested in Vancouver, Canada, at the request of U.S. law enforcement. According to Huawei, Meng Wanzhou, was arrested when she transferred between flights in Canada.

In a statement about the arrest of its CFO, Huawei said:

“Recently, our corporate CFO, Ms. Meng Wanzhou, was provisionally detained by the Canadian Authorities on behalf of the United States of America, which seeks the extradition of Ms. Meng Wanzhou to face unspecified charges in the Eastern District of New York, when she was transferring flights in Canada.

The company has been provided very little information regarding the charges and is not aware of any wrongdoing by Ms. Meng. The company believes the Canadian and US legal systems will ultimately reach a just conclusion.

Huawei complies with all applicable laws and regulations where it operates, including applicable export control and sanction laws and regulations of the UN, US and EU.”

Meng Wanzhou is not only the firm’s CFO, she also holds the post of deputy chair of Huawei’s board and is also the daughter of the company’s founder, Ren Zhengfei. Discussing her arrest, Justice Department spokesman Ian McLeod said:

“Meng Wanzhou was arrested in Vancouver on December 1. She is sought for extradition by the United States, and a bail hearing has been set for Friday. As there is a publication ban in effect, we cannot provide any further detail at this time. The ban was sought by Ms. Meng.”

As was to be predicted, the Chinese government has criticised the move and called for the CFO to be released. This development comes amidst a growing trade war between the U.S. and China, and the chasing out of Huawei in several markets allied with the U.S.

Source: The Globe and Mail

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