Senior Huawei executive arrested in Canada

06 December, 2018, 07:00 | Author: Frank Williams
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Huawei's global chief financial officer has been arrested in Canada, where she is facing extradition to the United States, officials have confirmed.

"The ban was sought by Ms. Meng".

"Americans are grateful that our Canadian partners have arrested the Chief Financial Officer of a giant Chinese telecom company for breaking US sanctions against Iran, " he said.

The handset and telecommunications equipment maker said it complies with all applicable export control and sanctions laws and United States and other regulations.

The report said the U.S. had been keeping a close eye on Huawei's alleged shipping of United States products to Iran and other countries in violation of sanction laws.

Reuters quoted Huawei, the world's largest maker of telecommunications network equipment and the number three smartphone supplier, as saying that it complies with all applicable laws and regulations where it operates.

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

In 2017, ZTE pleaded guilty in US federal court to evading USA embargoes on Iran, by buying American tech parts, incorporating them into ZTE equipment, then illegally shipping them 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.

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Further details on the allegations of sanctions busting against Meng are yet to be revealed because of a gag order reportedly sought by her.

Ms. Meng, the daughter of Huawei's founder, Ren Zhengfei, serves as the company's CFO and deputy chairwoman.

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.

It is not clear if Meng's arrest is connected to the USA probe into Huawei.

On Wednesday, the New Zealand Government's security agency has blocked telecoms giant Spark from using Huawei in its 5G mobile network upgrade.

In August, U.S. President Donald Trump signed a bill banning the government's use of Huawei technology based on the security concerns. Huawei has said neither it nor Skycom ultimately provided the HP equipment.

Huawei, which sells telecommunications and computer electronics equipment, is the world's second largest maker of smartphones, behind South Korean giant Samsung.

Founded in China more than 30 years ago, Huawei's revenue in 2018 exceeded $100billion for the first time in its history, according to CNBC.

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