CANADA ARRESTS CHIEF FINANCIAL OFFICER OF CHINA TELECOM GIANT "HUAWEI" ON BEHALF OF USA FOR IRAN SANCTIONS VIOLATIONS

CANADA ARRESTS CHIEF FINANCIAL OFFICER OF CHINA TELECOM GIANT "HUAWEI" ON BEHALF OF USA FOR IRAN SANCTIONS VIOLATIONS

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Canadian authorities have taken into custody Sabrina Meng Wanzhou, the CFO of the Chinese Telecom company Huawei, on behalf of the United States. Though no charges have been publicly released, media reports claim Huawei shipped American products to Iran, violating Iran sanctions violations. The US has previously warned Canada against acquiring Huawei wireless products, asserting that the corporation's equipment allows China to spy on other governments.

  Sabrina is the daughter of the company's founder. A bail hearing is reportedly scheduled for Friday, December 7, 2018. The government of the Peoples' Republic of China has expressed objections to her detention, and demanded her release. Canada has imposed a news blackout on the case, reportedly at the request of Sabrina.

Chronicles of Monte Friesner - Financial Crime Analyst  

Contributed by Kenneth Rijock - Financial Crime Consultant