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

06 December, 2018, 06:59 | Author: Lawrence Cooper
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USA authorities have been investigating Huawei, one of the world's largest makers of telecommunications network equipment, since at least 2016 for allegedly shipping US-origin products to Iran and other countries in violation of United States export and sanctions laws, sources told Reuters in April.

The Globe and Mail reported the arrest was in relation to sanctions-busting in Iran - rather than any concerns about espionage by the Chinese firm - which has annual revenues of US$93 billion (NZ$135b) and 180,000 employees and is deeply embedded with many New Zealand telcos.

The U.S. Justice Department declined to comment about the arrest.

The country has already been warned by USA senators against the use of Huawei in its telecommunications networks.

So far, Huawei has not yet commented on the arrest of Meng, who is also the daughter of Huawei's founder, Ren Zhengfei.

This story is developing.

The Globe and Mail reported earlier Wednesday that she was arrested on suspicion of violating US trade sanctions on Iran.

U.S. media have reported that the United States is investigating Huawei for potential violations of USA sanctions against Iran. The tech company said it complies with all laws and rules where it operates.

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The Wall Street Journal reported the USA government was trying to persuade companies in allied countries to avoid Huawei.

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

The statement said that Meng was taken into custody when she was transferring flights in Canada.

Earlier this year, the U.S. Justice Department began probing Huawei for potentially violating sanctions that banned the Chinese company from selling equipment to Iran.

"At the request of the US side, the Canadian side arrested a Chinese citizen not violating any American or Canadian law".

Huawei has yet to issue a statement regarding Wanzhou's arrest. Huawei has said neither it nor Skycom ultimately provided the HP equipment.

As part of a new deal to lift the ban, ZTE agreed to pay $1 billion in fines, replace its entire board of directors and senior management, and to have a compliance team assembled by the U.S. Commerce Department embedded in its operations. News of the probe broke in April 2018 when it was reported by the Wall Street Journal. The Pentagon stopped offering Huawei's devices on USA military bases citing security concerns.

Huawei, which sells telecommunications and computer electronics equipment, is the world's second largest maker of smartphones, behind South Korean giant Samsung. Huawei has denied the links.

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