Huawei CFO Arrested for Violating US Trade Sanctions

Huawei CFO and deputy chair Wanzhou Meng was arrested in Canada last week upon the request of the US government for allegedly violating US-Iran trade sanctions.

 

Meng, the daughter of Huawei founder Ren Zhengfei, is now facing extradition to the US. A bail hearing has been set for Friday, said Justice Department spokesperson Ian McLeod who refused to give more details.

 

Chinese tech giant ZTE had previously been penalized for illegally exporting products to Iran. However, the ban had been removed at the start of last year by the US Department of Commerce’s Bureau of Industry and Security after the company paid its fine and agreed to the conditions set by the US government.

 

Source: ZDNet