Huawei CFO arrested in Canada at U.S. request for allegedly breaking Iran sanctions

Canadian authorities in Vancouver have arrested Huawei Technologies Co.’s chief financial officer at the request of the U.S. government for alleged violations of Iranian sanctions, the latest move by Washington to crack down on the Chinese cellular-technology giant.

A spokesman for Canada’s justice department said Meng Wanzhou was arrested in Vancouver on Dec. 1 and is sought for extradition by the U.S. A bail hearing has been tentatively scheduled for Friday, according to the spokesman. Meng, the daughter of Huawei’s founder, Ren Zhengfei, serves as the company’s CFO and deputy chairwoman.

Meng’s arrest comes amid a year-long U.S. government campaign against a company it views as a national-security threat. In the past year, Washington has taken a series of steps to restrict Huawei’s business on American soil and, more recently, launched an extraordinary international outreach campaign to persuade allied countries to enact similar curbs.

The U.S. is seeking Meng’s extradition so as to have her appear in federal court in the Eastern District of New York, according to people familiar with the matter. A Huawei spokesman had no immediate comment on Meng’s arrest Wednesday.

An expanded version of this report appears on WSJ.com.

Also popular on WSJ.com:

Gwyneth Paltrow wants to convert you.

China maneuvers to snag top-secret Boeing satellite technology.

Get the top tech stories of the day delivered to your inbox. Subscribe to MarketWatch's free Tech Daily newsletter. Sign up here.

Source: Read Full Article