Huawei financial boss arrested in Canada

Huawei CFO Meng Wanzhou arrested in Canada says Canada's Justice Deptartment

Canadian authorities have arrested the chief financial officer of Chinese telecommunications giant Huawei Technologies in Vancouver, B.C.

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

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

According to Meng's official company biography, she joined the company in 1993 and also serves as deputy chairwoman of the board.

This story is developing.

It comes as Huawei is said to be facing a probe by the U.S. Justice Department for violating sanctions against Iran. American prosecutors are seeking to have her moved to the U.S. as it investigates whether the company broke trade sanctions against Iran.

"While we lifted the ban on ZTE, the department will remain vigilant as we closely monitor ZTE's actions to ensure compliance with all U.S. laws and regulations", Commerce Secretary Wilbur Ross said at the time.

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

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

He refused to provide any details on the circumstances of the Chinese executive's arrest, saying that she was "sought for extradition by the United States". Earlier this year, Huawei's rival ZTE Corp. was slapped with a ban on buying USA -made equipment over similar accusations.

Canadian law enforcement arrested Wanzhou Meng at the behest of American authorities, who are investigating allegations that the Chinese-owned Huawei has shipped US -made products to Iran that are prohibited by sanctions and export laws.

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

Skycom was described by Huawei as one of its "major local partners", although the Chinese company said neither it nor Skycom ultimately provided the HP equipment.

Wanzhou Meng, Huawei's chief financial officer, was reportedly arrested in Canada on Saturday.

The probation violation cited by the judge involves the same conduct the U.S. Department of Commerce penalized in April by imposing a ban on U.S. companies selling goods to ZTE. A proposal for the sale of the HP equipment to Iran contained at least 13 pages marked "Huawei confidential" and included the Huawei logo, Reuters said.

Huawei could not be reached for comment at the time of publication.

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