Huawei chief financial officer arrested in Vancouver - Telco/ISP - Finance - Security


Huawei's global chief financial officer arrested in Vancouver

As there is a publication ban in effect, which was requested by Meng, the department declined to provide any further detail of the extradition.

Huawei released a statement saying its CFO was arrested while changing planes in Vancouver and is facing charges in "the Eastern District of NY".

Huawei said it was unaware of any wrongdoing by Meng and was provided "very little information" about the charges.

A user of China's Twitter-like Weibo platform said Chinese should boycott products made by United States tech giant Apple Inc and instead buy Huawei products to show support for one of China's national champions.

News of Meng's arrest provoked strong protest from the Chinese embassy in Canada, which called it a violation of its citizens' rights while demanding the USA and its neighbor "rectify wrongdoings" and free Meng.

"The Chinese side firmly opposes and strongly protests over such kind of actions which seriously harmed the human rights of the victim", read a statement released by the Chinese Embassy in Canada.

Huawei's biggest Chinese rival, ZTE Corp., was almost driven out of business this year when Washington barred it from buying U.S. technology over exports to North Korea and Iran.

Meng is a prominent member of China's business world as deputy chairman of Huawei's board and the daughter of its founder Ren Zhengfei, a former Chinese military engineer. Huawei is one of the world's largest makers of handsets and telecommunications network equipment.

The broad market decline came as the arrest of a senior Chinese technology executive overshadowed some positive comments on trade from Beijing and threatened to worsen trade tensions between the U.S. and China.

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Meng was arrested in Canada at the request of US authorities on the same day USA and Chinese officials held talks at the G-20 in Argentina that resulted in the three-month truce.

Several other past and present Skycom directors appear to have connections to Huawei.

Huawei, China's largest telecom equipment maker, has been under investigation into whether it had broken US trade controls to countries including Cuba, Iran, Sudan and Syria.

While Meng's arrest comes at a delicate time in U.S. He also claimed that the incident "will seriously impact China and the USA implementing consensus reached between two state leaders".

The probe of Huawei is similar to one that threatened the survival of China's ZTE Corp, which pleaded guilty in 2017 to violating US laws that restrict the sale of American-made technology to Iran. The White House has also focused on tightening and enforcing economic sanctions on Iran, months after Trump announced he was withdrawing from a multinational agreement reached under President Barack Obama's administration to freeze Iran's nuclear arms program.

Geng, the foreign ministry spokesman, said China objects to unilateral sanctions outside the United Nations.

The US began an investigation in 2016 to ascertain whether or not Huawei has violated American sanctions against Iran.

Huawei, along with many other Chinese phone manufacturers and telecom equipment makers, is viewed with significant suspicion by the "Five Eyes" intelligence alliance, comprised of Australia, Canada, New Zealand, the United Kingdom, and the United States. "Huawei of course is a global player, and has made major inroads in developing countries, and even developed countries", Harwit said.

Senator Chris Van Hollen, a Maryland Democrat, said Wednesday night that Huawei and ZTE "are two sides of the same coin - Chinese telecommunications companies that represent a fundamental risk to American national security".

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