Huawei executive arrested by Canadian officials at USA request

Huawei executive arrested by Canadian officials at USA request

Huawei executive arrested by Canadian officials at USA request

Canadian publication The Globe and Mail reported that Meng Wanzhou, the global chief financial officer at the Chinese telco, faces extradition to the US.

Meng, daughter of the founder of the massive company, is being held under a provisional arrest warrant issued under the Extradition Act.

The Canadian Justice Department arrested Wanzhou Meng in Vancouver on Saturday and United States officials want Canada to extradite her, agency representative Ian McLeod said in an email sent to Business Insider.

The Wall Street Journal notes that USA authorities want to bring Meng to federal court in the Eastern District of NY.

Huawei released a statement, noting that it "has been provided very little information regarding the charges and is not aware of any wrongdoing by Ms Meng".

Meng, 46, has been the CFO of Huawei Technologies since 2011 and vice chair of the company since March 2018.

A Huawei spokesman said Wednesday that Ms. Meng was arrested while transferring flights in Canada.

USA media have reported that the United States is investigating Huawei for potential violations of U.S. sanctions against Iran.

In a statement, Huawei said it complied with "all applicable laws and regulations where it operates, including applicable export control and sanction laws and regulations of the UN, US and EU". "The company believes the Canadian and USA legal system will ultimately reach a just conclusion".

Donald Trump Spins 90 Day China Truce as 'Big Leap Forward'
This suggests that both countries have a lot to lose if the trade deal isn't finalised within the newly set 90-day time limit. Elsewhere, Japan's Nikkei 225 edged 1% higher while South Korea's Kospi gained 1.6% and Australia's ASX 200 closed 1.84% up.

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

The report adds, via an unnamed source, that the US believes Meng was trying to circumvent the current USA trade embargo with Iran, although details about this alleged violation were not revealed.

Earlier this year, two US senators wrote to Prime Minister Justin Trudeau warning him that doing business with the Chinese telecom giant would open Canada up to a huge security risk.

In August, U.S. president Donald Trump signed an act to ban the use of Huawei components or services that are "essential" or "critical" to the systems they are used.

Huawei has repeatedly insisted Beijing has no influence over it.

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

Huawei has repeatedly denied engaging in intelligence work for any government and is seeking an urgent meeting with the New Zealand government. BT still planned to use Huawei phone mast antennas and some other products.

Canada is yet to take any action against the Chinese company's 5G technology.

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