Huawei Technologies Co.’s Chief Financial Officer Wanzhou Meng, arrested in Canada, has been charged with conspiracy to defraud banks in connection with alleged violations of U.S. sanctions on Iran. It’s not an isolated incident but rather the latest chapter in a long history of tension between China’s smartphone and telecommunications giant and the U.S. government and businesses.
As well as the CFO, she is deputy chairwoman of Huawei and a daughter of the company’s founder. Meng was detained in Vancouver Dec. 1 at the behest of U.S. authorities and is facing potential extradition to the U.S., which is investigating whether the Chinese company sold equipment to Iran despite U.S. sanctions. The company said it wasn’t aware of any wrongdoing by the CFO and that it was law-abiding. Meng, 46, was granted bail Dec. 11, allowing her to stay in one of her luxury homes in Vancouver awaiting possible extradition. She lives mainly in Shenzhen.