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Canada arrests Huawei CFO

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The chief financial officer of China’s Huawei Technologies was arrested in Canada.

Meng Wanzhou, who also serves as deputy chairwoman of the telecommunications company's board and is the daughter of company founder Ren Zhengfei, was arrested Saturday at the request of U.S. authorities.

“She is sought for extradition by the United States, and a bail hearing has been set for Friday,” Justice Department spokesman Ian McLeod said. “As there is a publication ban in effect, we cannot provide any further detail at this time. The ban was sought by Ms. Meng.”

U.S. prosecutors have been investigating whether Huawei committed violations of U.S. sanctions in Iran.

“The company has been provided with very little information regarding the charges and is not aware of any wrongdoing by Ms. Meng. The company believes the Canadian and U.S. legal systems will ultimately reach a just conclusion,” Huawei officials said, adding the company “complies with all applicable laws and regulations where it operates, including applicable export control and sanction laws.”

Read more from The Globe and Mail.

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