CFO of China tech giant Huawei Technologies arrested in Vancouver

Meng Wanzhou of Huawei

Sabrina Meng in happier times

The worldwide chief financial officer of Huawei has been arrested in Vancouver by Canadian authorities over allegations that she has violated United States trade embargo against Iran.

Meng Wanzhou, who is also the daughter of Huawei founder Ren Zhengfei, was arrested Saturday in Vancouver and is facing extradition to the US, Canada's Justice Department told The Globe and Mail newspaper Wednesday.

A clerk at the B.C. Supreme Court said Meng appeared in court on Wednesday and a bail hearing is scheduled for Friday.

McLeod said a publication ban had been imposed in the case and he could not provide further details.

"The company has been provided very little information regarding the charges and is not aware of any wrongdoing by Ms. Meng".

In a statement issued exclusively to the News from Huawei's corporate head office, the company explained how Meng was "provisionally detained by the Canadian authorities on behalf of the United States of America, which seeks the extradition of..."

"The company believes the Canadian and USA legal systems will ultimately reach a just conclusion".

Reports appeared in April 2018 that federal prosecutors in NY had an open probe into whether Huawei had violated US restrictions against Iran.

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However, according to the Globe and Mail, she was arrested on suspicion she violated USA trade sanctions against Iran.

The U.S. previously banned ZTE, a Huawei competitor, for violating similar sanctions.

The arrest comes amid a trade war between the USA and China. "The company believes the Canadian and United States legal systems will ultimately reach a just conclusion", it said.

Huawei is one of the world's leading makers of telecommunications network equipment.

Huawei's CFO was arrested in Canada, according to a new report in The Wall Street Journal.

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

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

In July, Huawei wrote to the US Federal Communications Commission (FCC) arguing that the nation should not miss out on its market-leading technology, and pointed out that its exclusion would drive up consumer costs for mobile services. Mark Warner conveyed "grave concerns" over the possibility that the Chinese government might be using Huawei equipment to spy on and interfere with foreign governments.

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