Canada Arrests Huawei CFO at Request of U.S. Authorities

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The CFO and daughter of the founder of Chinese telecom equipment-maker Huawei Technologies has been arrested in Canada and is being sought for extradition to the US, the company said on Thursday, as local media reported she had violated USA trade sanctions against Iran.

A bail hearing for Wanzhou Meng, who is also Huawei's deputy chairwoman of the board, has been set for Friday, Justice Department spokesperson Ian McLeod said in a statement Wednesday.

American law enforcement are seeking Meng's extradition to the USA, and a bail hearing is set for Saturday Australian time.

The Globe and Mail reports that USA law enforcement agencies allege Ms. Meng tried to evade US trade embargoes against Iran.

"The ban was sought by Ms. Meng", continued the statement. "The company believes the Canadian and United States legal systems will ultimately reach a just conclusion".

The Wall Street Journal reported in April that American authorities are investigating whether the Chinese tech company violated sanctions on Iran.

The investigation into Huawei is similar to that which led to the near-downfall of its domestic competitor, Chinese smartphone maker ZTE.

Officials for the Canadian and US Justice Departments did not immediately respond to a request for comment.

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He also said that he was open to ratifying the previously unapproved Qualcomm-NXP deal should it be presented to him once again. In return, China is to purchase "very substantial" amount of agricultural, energy, industrial and other product from the US.

Asked about the report that Huawei was under investigation, Hua said in April, "We hope the USA will refrain from taking actions that could further undermine investor confidence in the USA business environment and harm its domestic economy and normal, open, transparent and win-win worldwide trade".

In April, China appealed to Washington to avoid damaging business confidence following the Wall Street Journal report that USA authorities were investigating whether Huawei violated sanctions on Iran amid spiraling technology tensions.

China's embassy in Canada criticized Canada and the United States for the arrest.

It says she was arrested when she was transferring flights in Canada.

It comes amid deepening suspicions of Huawei in the United Kingdom and elsewhere.

Australia and New Zealand have already turned down Huawei's offer to supply 5G equipment to telecommunication companies, citing security risks.

Meng, daughter of the founder of the massive company, is being held under a provisional arrest warrant issued under the Extradition Act. Huawei has said neither it nor Skycom ultimately provided the HP equipment.

In May, the Pentagon banned the sale of Huawei phones on military bases. For example, a management company that was controlled by Huawei's parent company in 2007 held all of Skycom's shares, and Meng at the time was that management firm's company secretary, Reuters reported.

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