Canada arrests Huawei global CFO in Vancouver

Canada arrests Huawei global CFO in Vancouver

The chief financial officer of China's global telecommunications equipment giant Huawei has been arrested in Canada and faces extradition to the United States, the ministry of justice said Friday.

McLeod noted that a bail hearing has been set for this Friday, but declined to offer any further details on the case, citing a publication ban that he said was requested by Meng.

Mcleod refused to elaborate on the charges that Meng might face in the USA citing a publication ban, requested by Meng herself.

But Huawei said in a statement that it had been provided "very little information regarding the charges" and was not aware of any wrongdoing by Meng.

Meng, 41, was tipped by some mainland China media as a leading contender to succeed her father, Huawei's founder Ren Zhengfei to take the helm of the telecom giant. face unspecified charges in the Eastern District of NY, when she was transferring flights in Canada.

In a statement, Huawei says Meng is being sought for extradition to face unspecified charges in the Eastern District of NY.

Huawei didn't immediately reply to a request for comment from Fortune.

Fellow Chinese technology giant ZTE had similarly been removed from the US trading blacklist at the start of a year ago by the US Department of Commerce's Bureau of Industry and Security following the company's guilty plea to illegally exporting products to Iran.

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.

Meng Wanzhou "was arrested in Vancouver on December 1", a statement said. "The company believes the Canadian and US legal systems will ultimately reach a just conclusion", the statement said. It is not clear if Meng's arrest is connected to the U.S. probe into Huawei.

The US later replaced the ban with a fine and governance changes.

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

The Chinese telecommunications giant is now in partnership with Canadian universities across the country as well as companies such as Telus, with whom it is developing 5G networks in Canada.

This November, New Zealand's government banned its major telecommunications company Spark from using Huawei's equipment, which is described to "have a serious national security risk".

The report said existing Huawei equipment at the firm's current 3G and 4G networks would also be removed.

Huawei itself has been increasingly on the rocks with the United States for the past year.